Shares of Boeing tumbled about 6 per cent in premarket trading
China responds to US tariffs aimed at recouping IP losses, Beijing's aim is to bring Trump to negotiating table
This comes after Beijing slapped tariffs on a list of US imports in retaliation for similar duties levied by the White House
Extra tariffs will also be slapped on products such as whisky, cigars and tobacco, some types of beef, lubricants, and propane and other plastic products
The move is considered as retaliation to the United States for announcing 25 percent tariffs on some 1,300 Chinese products
The US tariffs are expected to target products benefiting from Beijing's "Made in China 2025" industrial development programme
The Wall Street Journal first reported the demands from US officials, saying they came in a letter sent to Beijing last week
China said the move was intended to safeguard its interests and balance losses caused by the new tariffs. The tariffs came into effect from Monday
US President Donald Trump's administration is requesting China purchase more semiconductors from the United States
China's biggest U.S. imports are aircraft and related equipment, soybeans and autos, with the total bill about $40 billion last year
The Chinese list will target a large number of major US imports to China, said the English-language editorial
Hostilities could accelerate the flight of factories to the rest of Asia
Treasury secretary speaks in interview on 'Fox News Sunday'; Comments come after South Korea announced agreement on tariffs
When President George W Bush raised steel tariffs in 2002, US gross domestic product declined by $30.4 million
The sparring cast spotlight on hardware makers such as Apple, which assemble majority of their products in China for export to other countries
Financial markets took a hit on fears of a potential trade war between the world's two largest economies
China will also pursue legal action against the US at the World Trade Organization in response to the US planned tariffs on steel and aluminum imports
A continued trade war would affect other secondary markets as well, due to the size and trade connections of both nations
Trump's proposed tariffs are a response to allegations of intellectual property theft by China
US President Trump on Thursday hit China with tariffs on up to $60 billion of imports to retaliate against the "theft" of American intellectual property