Trump is losing the trade war, according to his favourite measure

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Every country on earth wants to take wealth out of the USA, always to our detriment.

April 2: China imposed tariffs between 15 percent and 25 percent on 128 USA products worth a total of $3 billion.

China's state media said on Saturday the government's retaliatory tariffs on $60 billion of USA goods showed rational restraint and they accused the United States of blackmail.

The Chinese Commerce Ministry blamed the USA for escalating the situation.

Instead, U.S. coal exports to China appear to be trending lower, with about 336,000 tonnes booked for arrival on four vessels in August - down from the peak this year of 505,300 tonnes on seven ships in April, and also below the average of 365,000 tonnes for the first seven months of the year.

"The U.S.is in a better position to ride through the tariff concerns because of a strong economy", said Sung Won Sohn, chief economist at SS Economics in Los Angeles.

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China has threatened to increase tariffs on imported American goods if the usa follows through with its threats to ratchet up the trade war.

The result is that both China and the United States are now using government funds to stimulate areas of the economy. After the earlier action against $34 billion of US goods, that left about $120 billion available for retaliation.

Calling the Chinese economy weak from the lawn of the White House in an interview with Bloomberg TV, Kudlow said: "The president has said time and again, that targeted tariffs are going to be part of the gameplan with China - unless, and until, they begin to meet our requests, and so far they have not".

Trump also cited losses in China's stock market as he predicted that the USA market could "go up dramatically" the moment trade deals were renegotiated.

Beijing yesterday revealed more than 5,200 American-made products would be slapped with new levies in response to a threat by Donald Trump's administration to impose additional duties on $200bn of Chinese goods.

China's official newspaper on Monday accused the US President of acting like a street fighter by imposing import tariffs and said Beijing would not surrender to his "extortion".

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The United States and China have the world's biggest trading relationship but official ties are increasingly strained over complaints Beijing's technology development tactics hurt American companies.

This could drive USA importers to stop bringing in certain goods because they are too costly, hurting the foreign manufacturers, but those foreign companies do not pay the tariffs, and neither do the foreign countries where those companies are based.

June 18: China said it would retaliate with equivalent tariffs on American products.

The state-run Global Times, responded to White House economic adviser Larry Kudlow's remarks that China should not underestimate Trump's resolve, saying that China was not afraid of "sacrificing short-term interests". The US then said it wouldn't back off.

"Market participants foresee a relatively stable Chinese currency in the near term, without fear of impacts from the U.S".

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