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The U.S. President Donald Trump said he will impose tariffs of $60 billion on Chinese imports on Thursday. "It is impossible to imagine that they can not", Robert Carnell, head of Asia Pacific Research at ING in Singapore, wrote in a client note.

"Holding China accountable for refusing to follow global trading rules is important and necessary, but instead, the tariffs proposed by the administration will punish ordinary Americans for China's violations", NRF president and CEO Matthew Shay said in a statement issued by the organization.

"Chinese retaliation against US wine would put our producers at a significant disadvantage in one of the most important markets in the world at a critical time", said Bobby Koch, CEO of the Wine Institute.

It said it has compiled a list of 120 products worth almost $1 billion, including fresh fruit and wine, upon which it would impose a 15 percent tariff if the two countries fail to resolve their trade differences "within a stipulated time".

The tensions reflect the dueling nationalistic ambitions of Trump and his Chinese counterpart, Xi Jinping.

China "urges the US side to resolve the concerns of the Chinese side as soon as possible" through dialogue and "avoid damage to the overall situation of Sino-US cooperation", it said.

China is unlikely to respond until Washington acts but might launch an investigation of imports of US corn and soybeans "as a warning shot", said Parker. Ever since his presidential campaign he has threatened to pull the USA out of the body.

France attack: Second arrest after police 'hero' dies
The officer "left his telephone on the table" to allow police who had surrounded the building to listen in, Collomb said. Macron also wanted to calm fears about a possible resurgence of terror attacks that France experienced in 2015 and 2016.

Weather Forecast: Nice, spring weather for the next few days
Daytime highs should be in the mid-50s Thursday , Friday and Saturday , with overnight lows ranging from low 30s to mid-40s. Temperatures will hover in the mid 30s this afternoon , then drop slowly into the lower 30s this evening and overnight.

Fed expected to lift interest rates at Powell's debut
The average rate on a five-year Treasury-indexed adjustable-rate mortgages is now about 3.67 percent, according to Freddie Mac. ARM rates are modified annually, so a 0.25 percentage point increase in the rate in March wouldn't have an immediate effect.

Even so, worries that China may cancel orders pushed cash bids for both soybeans and corn lower at grain elevators along Midwest rivers on Thursday, indicating decreased demand from export terminals at the U.S. Gulf, a U.S. grains exporter said.

"If they mark the start of an unravelling of the current rules-based architecture, the US and global economy will be significantly negatively affected", the rating agency said in a statement.

The US trade representative (USTR) filed a request for consultations with China at the WTO to address Beijing's unfair technology practices, according to the Trump administration, The Hill reported. "We feel that focusing on reciprocal treatment while maintaining strong communications between the governments will be the best path forward to get to our goal of a level playing field based on fairness".

But China was not spared, with the US President pointing to his country's $504bn deficit with the country and confirming that there would be additional sanctions across a wide range of goods and services from software to fake Ralph Lauren polo shirts.

Apple chief executive Tim Cook, Google CEO Sundar Pichai and IBM Corp chairwoman and CEO Ginny Rometty are scheduled to attend the China Development Forum, an annual gathering that helps Western corporations build relationships with Chinese government officials. However, Chinese buyers would likely find it hard to get by only using alternatives, because its industry relies so heavily on US soybeans, he said.

"Conflict is unavoidable", said Hui Shousheng, a researcher at the Tsinghua National Strategy Institute in Beijing.