As well, USA motorcycle maker Harley-Davidson said on Monday that it would move some production overseas to avoid European tariffs, potentially affecting U.S.jobs. "China and the European Union firmly oppose trade unilateralism and protectionism and think these actions may bring recession and turbulence to the global economy".
After talks over the issue broke down this spring, the USA and China said they would both apply new tariffs to billions of dollars worth of goods from each other's country on 6 July.
The meeting between economic decision makers from the European Union and China took place after the United States government threatened to impose several types of tariffs on products from China and the European Union over the past few weeks. The action is part of the Trump administration's responses to China's alleged intellectual-property theft, as laid out in a report that followed an eight-month investigation by the Office of the U.S. Trade Representative.
Trump on Tuesday once again hit out at countries that had placed tariffs on USA goods, and threatened to impose even more tariffs.
"All we're doing here with the president's trade policy is trying to defend our technology when it may be threatened", Navarro said. Caterpillar stock lost 3.7 percent and Boeing fell 7.7 percent on Monday.
US and Canadian stocks suffered their worst one-day decline in several months on Monday, amid rising global trade tensions and their potential impact on the world economy.
A late in the day appearance by Peter Navarro, Trump's senior trade adviser, appeared to turn things around.
Erdogan proclaimed victor of Turkey's presidential election
Turkish President Recep Tayyip Erdogan won Turkey's presidential election Sunday to stay in power for at least five more years. Experts said the key for the People's Alliance to get enough seats lies in the hand of the Kurdish Peoples' Democratic Party.
Uber Test Driver Was Watching "The Voice" When Self-Driving Car Crashed
Despite this new information surrounding the tragedy, officials are still deciding whether or not they will charge the driver. Uber told the publication that it prohibits drivers from looking down at any device while manning an self-driving vehicle .
Rohr: Super Eagles Must Attack Argentina, We Can’t Play For Draw
Argentina are under pressure after two poor performances and staring at their first group stage exit since the dark days of 2002. According to former Argentina national soccer teammate Pablo Zabaleta, the World Cup forward is "stressed and unhappy ".
The beef ban was imposed over a decade ago as Beijing started closing off its markets to all European imports, and later to United States beef imports, in the wake of the "mad cow" disease scare. "It's bad for growth", he said.
Bloomberg's report is titled "US plans curbs on Chinese investment, citing security risk" and cites eight people familiar with the plans.
Meanwhile, later this week, the Treasury Department is due to unveil a proposal on investment and export restrictions. The administration could expand the existing authority of the Committee on Foreign Investment in the United States, or CFIUS, which is led by the Treasury and which already has blocked Chinese investments, in ports and semiconductors.
Spokespersons for the Treasury and the Commerce Department did not respond to requests for comment on their investment and export control plans.
The government official said the Treasury would invoke the International Emergency Economic Powers Act of 1977 (IEEPA) to devise the restrictions.
The Dow Jones Industrial Average closed at 24,252.80, down 328.09 points or 1.3 per cent. Its central bank said on Sunday it would cut the amount of cash some banks must hold as reserves by 50 basis points to spur lending to smaller firms.