China has vowed to retaliate against all US tariffs but hasn’t announced a response to Trump’s proposal to put duties on another US$200 billion in Chinese imports next month.
China’s equity market has suffered declines and the yuan has been on a losing streak for more than a month.
Finance Minister Sri Mulyani Indrawati said a 7.5% import tariff would be applied to 500 consumer goods, including those bought online, in a bid to curb imports.
China has already retaliated with duties of its own, and has pledged to match the United States dollar-for-dollar with new tariffs, including on the next US$16 billion.
The conflict between the US and China is taking on a “cyclical” pattern.
Exports are expected to grow 11.5% in June while imports were seen expanding 14.3% from a year earlier.
Waste imports into Vietnam and other Southeast Asian countries have risen significantly since the Chinese government banned the entry of several types of solid wastes from the beginning of this year.
LNG imports to Europe are poised to rise almost 20% by 2040 from 2016 levels, according to International Energy Agency.
US President Donald Trump said he is willing to hit all Chinese goods imported to the United States with tariffs if necessary.
The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products no longer imported into the United States would instead flood European markets.
The measures are the third part of the EU's response to tariffs imposed by US President Donald Trump.
The Philippines is one of the world's biggest buyers of rice and usually imports from its Southeast Asian neighbours Vietnam and Thailand.
If the US stops at duties on $50 billion in imports, and China does likewise, the hit to both countries’ economies will be modest, Bloomberg Economics projects.
Triggering what China calls " the largest trade war in economic history," the US imposed a 25% duty on US$34 billion of Chinese imports. Beijing responded with tariffs on US soybeans, meat and vehicles.
One reason for the face-off is the growing and global rise of populism with Europe facing high-profile tests on that front too.
UK exporters also eyeing other Southeast Asian countries like Thailand and Vietnam.
At least five sites will be blocked on Sunday evening, with a total of 13 sites blocked from 9 a.m. Monday, Christiane Lambert, president of the FNSEA said in an interview with France Info television.
Exports rose 12.6% in May, the customs administration said Friday, faster than a forecast of 11.1%. Imports surged 26%, leaving a trade surplus $24.9 billion(RM 99.2 billion)
Last week, Mexico said the retaliatory tariffs would apply to pork legs and shoulders from U.S. suppliers, which account for about 90% of the country’s $1.07 billion annual imports of the cuts.
Export growth was more than double the 6.3% rise forecast by a Reuters poll, and significantly higher than the 2.2% annual growth in March.
IDEAS CEO Ali Salman says since China’s investments increased, outpacing Malaysian FDIs into China, Malaysian exports to China have fallen badly which may not be a coincidence.
The European Commission will vote on whether to restrict Brazilian chicken exports on April 18.
The list -- which includes electronics, aircraft parts, medicine, machinery and other goods -- has yet to be finalized and is intended as a response to China's alleged theft of American companies' intellectual property and technology.
The White House also says talks were underway to finalize a side agreement prohibiting both countries from competitively devaluing their currencies to gain advantages in trade.