Pompeo confident United States will win China trade war

"We're going to get an outcome which forces China to behave in a way that if you want to be a power - a global power - transparency, rule of law, you don't steal intellectual property".

Chinese products hit with new USA duties include vacuum cleaners to internet-connected devices, while United States goods targeted by Beijing include liquefied natural gas and certain types of aircraft.

Trump slapped tariffs on $200 billion worth of imports from China and threatened more if Beijing retaliated.

The administration will levy tariffs of 10 percent on the $200 billion of Chinese products, with the tariffs to go up to 25 percent by the end of 2018.

The US imported about $500bn worth of products from China a year ago, compared with $130bn in US goods imported by the Asian country.

The Wall Street Journal reported China has canceled upcoming trade discussions with the United States and will not send vice-premier Liu He to Washington this week.

"Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook", Fitch said in a report Friday.

It leaves Beijing hitting $110 billion worth of USA goods, almost everything China buys from the United States.

The Chinese government has not made any announcement yet.

China reached into the U.S. heartland in its escalating trade war over President Donald Trump's tariffs, using an advertising supplement in Iowa's largest newspaper to highlight the impact on the state's soybean farmers as "the fruit of a president's folly".

However, following complaints from thousands of USA firms - including powerhouses like Apple and Walmart - 300 product lines were dropped from the target list.

Walmart, the world´s biggest retailer, also warned of the "detrimental impact" to consumers if tariffs were imposed on a number of products, but many of those, like handbags, suitcases, haircare products, dog food and dog leashes, remained on the final list.

"It would look weak both to the USA and at home", he said, adding that there is "sufficient stimulus in the pipeline" to limit the damage of the latest tariffs on China's economy.

On Thursday, in a first, the Trump administration imposed sanctions on a unit of China's defence ministry for buying fighter jets and missiles from Russian Federation.

The advertising targets a state critical to Trump and Republicans as the trade war between the world's two largest economies intensifies.

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