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US President is a prolific Tweeter, who likes to tweet about the US stock market, particularly when it is moving higher.

He also doesn't mind tweeting about his Presidential approval rating.

Trump also doesn't mind voicing his concerns about global trade, particularly when he feels the playing field isn't level for U.S. exporters.

Still, new tariffs could help Trump's Republican party going into November's congressional elections.

Brookings Institution Fellow Joseph Parilla said governors don't decide USA trade policy but can engage in direct economic diplomacy to encourage investment, while funding things like education and research at home.

Financial markets were upended after Trump said he's "ready to go" with additional import tariffs and that China, the European Union and others have been manipulating their currencies and interest rates.

"They're not doing what we're doing and we already have somewhat of a disadvantage, although I'm turning that into an advantage", he said. "We've been ripped off by China for a long time".

MORE TARIFF TALK: In a taped interview with the business channel CNBC, Trump said "I'm willing to go to 500", referring roughly to the $505.5 billion in goods the US imported past year from China.

Philip Levy, a trade expert at the Chicago Council on Global Affairs and a former White House trade adviser, suggested that Chinese officials have been frustrated and confused by their previous failed efforts to reach an agreement.

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Trump had earlier threatened to target up to $550 billion in Chinese products - a figure that exceeds the $524 billion in goods and services China actually shipped to the United States a year ago. A tariff is a tax on a good coming into the USA, also known as a duty.

What to do when you when you don't have the same amount of imports to slug in return?

The US has since threatened tariffs on another US$200 billion in Chinese exports, prompting Beijing to vow retaliation.

"Debt coming due & we are raising rates - Really?" "China may issue verbal support soon".

As such, Bhave, Harris and Qiao believe the most likely scenario is a war of attririton developing between the two sides.

China has pledged to retaliate against United States tariffs in "equal scale and equal strength". They will also be looking out for more U.S. corporate earnings, such as those from tech giants like Google, Amazon and Facebook. It points out the potential consequences trade escalations could have on American soybean exports, underscoring that China is the world's largest soy importer.

Political messaging in the video is less than subtle, with the "bean" character telling viewers that China imports one third of its soybeans from the U.S., which amounts to 62 percent of the crop exported by American farmers.

Here's a breakdown of how we got here and what the tariffs mean for the economy. The markets are very risk-off. China's own equity benchmarks have fallen into a bear market. The potentially offsetting comments fueled a two-sided trade in gold prices. Finally, a weaker Yuan and stronger Dollar means that should Chinese holders of United States assets including vast tracts of real property, decide to sell off their holdings, this would also be a good time to do so based on the current exchange rate.


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