Trump threatens tariffs on almost all of China's USA imports

Trump threatens tariffs on almost all of China's USA imports

Trump threatens tariffs on almost all of China's USA imports

The new taxes are in addition to a 25 percent levy on $200 billion worth of Chinese goods with which Trump has already threatened China.

The tariffs would potentially hurt United States companies that import everything from handbags to bicycle tires.

The implementation of tariffs on US$200 billion of products from China "will take place very soon depending on what happens", Trump told reporters on Air Force One on Friday.

The US comment period on $200 billion of proposed tariffs ended yesterday.

Apple didn't immediately comment on Trump's tweet.

"Risks have increased due to the negative impacts of China-U.S. trade friction".

China's trade surplus with the United States reached a record $31 billion in August, despite hefty tariffs recently imposed on Chinese goods.

"China trade war has now become even more hard to discern as both sides step up their attacks and counter-attacks", said Cornell University economist Eswar Prasad, former head of the International Monetary Fund's China division. Additional U.S. tariffs are certain to trigger Chinese retaliation, though China's smaller volume of American imports means that it can't match Trump's tariffs on a dollar-for-dollar basis. And China has vowed to hit $60 billion in USA products in retaliation. "And I hate to say this, but behind that is another US$267 billion ready to go on short notice if I want".

Earlier this year, the Trump administration imposed a package of tariffs on $50bn of incoming Chinese-made parts used for "aerospace, information and communication technology, and machinery".

Washington is demanding Beijing improve market access and intellectual property protections for USA companies, cut industrial subsidies and slash a $375 billion trade gap. "In the meantime, we're taking in billions of dollars of taxes coming in from China, with the potential of billions and billions of dollars more taxes coming in".

China so far has retaliated dollar-for-dollar with tariffs of its own on U.S. goods but since it imports less than $200 billion in goods a year from the United States, it has run out of room to match the punitive measures.

"I can't predict the future, but I am optimistic that the countries will get through this and we are hoping that calm heads prevail", he continued.

But Kudlow said the USA goals are clear.

Apple did say its MacMini, a low-cost computer that comes without a keyboard or mouse, would be affected. No surprise that U.S. CEOs are losing sleep over all the unknowns being thrown into the mix.

"I think the president has reasonable political support among the electorate and his own base for action against China", said Scott Miller, a trade scholar at the Center for Strategic and International Studies in Washington.

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