What a trade war means for you

The American flag flies near the national emblem of China outside of the Bayi Building before a welcome ceremony for U.S. Defense Secretary Jim Mattis in Beijing

The Trump administration's 25 percent tariffs on medical equipment, electronics and other goods from China apply to exports made by US or European companies as well as Chinese suppliers.

The list of goods affected by the new tariffs includes seafood, fruits and vegetables, grains and tobacco. Beijing immediately retaliated with similar duties on US exports.

"For over a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition", U.S. Trade Representative Robert Lighthizer said in an emailed statement. On Monday, China placed fees on a wide range of USA products, including scrap aluminum, sparkling wine and apples.

The move makes good on the president's threat to respond to China's retaliation for the initial USA tariffs on $34 billion in Chinese goods, which went into effect on Friday and would eventually place almost half of all Chinese imports under tariffs. Trump then promised tariffs on about 1,300 Chinese products.

Chinese officials are expected to retaliate in other ways, hitting US firms in China with unplanned inspections, delays in approving financial transactions and other administrative headaches.

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President Donald Trump last month threatened additional tariffs against China if it retaliated.

The president of the European Union Chamber of Commerce in China, Mats Harborn, said Tuesday one of its members moved final assembly of goods for the American market from China to a newly created USA company.

"The Trump administration is gambling that by wielding such a big club, it will force China to back down", said Edward Alden, a senior fellow at the Council on Foreign Relations.

The US has ramped up its trade war with China, outlining a list of $200bn (£150bn) worth of additional products it plans to place tariffs on.

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