U.S. imposes US$ 34 bil. tariffs on Chinese goods

미국 ‘25% 고율관세’-중국 ‘보복’…한국경제에 미치는 영향은? America's new tariffs on Chinese goods are now in effect. Beijing is ready to immediately respond with duties of its own. U.S. President Donald Trump remains unfazed, adamant on his stance that a trade war is something his country can't lose because Washington holds all the cards. Kim Hye-sung has more on the developments that's spooked markets the world over, including Korea. It's D-day. The U.S. has slapped tariffs on Chinese goods on Friday, the first shot in a trade war between the world’s two biggest economies. As of Friday U.S. Eastern time, Washington started taxing 818 Chinese products, including semiconductors and airplane parts, that are worth 34 billion U.S. dollars a year. The Chinese foreign ministry immediately responded, saying China has always opposed trade protectionism and that unilateral pressure will be futile. Beijing has vowed to hit back with tariffs on the same amount of U.S. goods, ranging from soybeans to pork. The move comes after President Trump repeatedly decried the U.S. trade deficit with China, and accused Beijing of forcing U.S. companies to transfer their intellectual property to Chinese companies to enter the Chinese market. Following Friday's tariffs, the U.S. also plans to impose a second round of tariffs on 16 billion dollars' worth of Chinese products in about two weeks, another action China has said it would respond to in kind, by imposing tariffs on U.S. products including soybeans, dairy products and automobiles. Experts are warning that an escalating trade war between the two superpowers could disrupt supply chains and hurt business confidence. Hyundai Research Institute estimates that if the United States imports of Chinese goods drop 10 percent, this will eventually cause Korea's exports to China to shrink by more than 28 billion U.S. dollars. "South Korea trades 37 percent of its exports with China and the U.S.. In particular, it sells a lot of intermediary goods to China that are made into final goods and exported to the U.S. Growing trade tensions, tit-for-tat measures between Washington and Beijing could slowdown South Korea's real economy." The Trump administration in addition has mounting clashes with other trading partners, in particular Canada, Mexico and the EU Fitch Ratings estimates that a full-blown trade war between Washington and Beijing could cost the world economy some two trillion U.S. dollars. Kim Hyesung, Arirang News. Arirang News Facebook:   / arirangtvnews   ------------------------------------------------------------ [Subscribe Arirang Official YouTube] ARIRANG TV:    / arirang   ARIRANG RADIO:    / music180arirang   ARIRANG NEWS:    / arirangnews   ARIRANG K-POP:    / arirangworld   ARIRANG ISSUE:    / arirangtoday   ARIRANG CULTURE:    / arirangkorean   ARIRANG FOOD & TRAVEL :    / arirangfoodtravel   ------------------------------------------------------------ [Visit Arirang TV Official Pages] Facebook:   / arirangtv   Twitter:   / arirangworld   Instagram:   / arirangworld   Homepage: http://www.arirang.com ------------------------------------------------------------ [Arirang K-Pop] YouTube:    / arirangworld   Facebook:   / arirangkpop   Google+: http://plus.google.com/+arirangworld