Trump has also imposed tariffs on other trade partners as well, slapping another 25 per cent tariff on $50 billion worth of Chinese goods last week.
"Growing global trade threats also present a challenge to our industry to pursue more growth in more markets". If so, Irish whiskey exports could potentially be affected because US-made bourbon has been hit here.
Beijing has pledged retaliation and Trump has threatened to push harder in response, saying that there could be tariffs on up to $450 billion of imports from China, close to the $500 billion of goods the United States gets from the world's second largest economy.
European Union countries retaliatory trade tariffs on a list of U.S. products, agreed in response to United States tariff hikes on steel and aluminium imports from Canada, the EU, and Mexico, will come into force on Friday, the European Commission announced on Wednesday.
It had previously registered the move with the World Trade Organization (WTO).
China's commerce ministry accused the United States on Thursday of being "capricious" over bilateral trade issues and warned that the interests of U.S. workers and farmers would ultimately be hurt by Washington's penchant for brandishing "big sticks".
A trade war would hit USA farmers, a vast majority of whom supported Trump in the 2016 election.
Although there has been no record of talks between the two countries since a deal to negotiate a reduction in America's trade deficit with China fell apart, some political analysts in the United States believe Trump may pull away from the tariffs before July 6.
"China does not want a trade war, but if Chinese companies suffer great losses due to Trump's protectionist trade policies, China will have no choice but to fight back in a bid to safeguard the interests of Chinese investors", The Global Times said on Thursday. "In other words, China should focus on its domestic affairs".
The European Union retaliated against President Trump's steel and aluminum tariffs Friday with tariffs on about $3.3 billion worth of American goods, including bourbon, orange juice, peanut butter, and motorcycles. "Of course there are risks, those would depend on how we handle those reforms".