Could 'soon' impose tariffs on $200bn in Chinese goods, says Trump

Roman Schwartz
September 8, 2018

But so far China had not met the Trump administration's requests.

"More broadly, tariffs will lead to higher USA consumer prices, lower overall US economic growth, and other unintended economic consequences".

That would cover virtually all the goods imported from the world's second largest economy.

Those steps include slapping tariffs on $60 billion of USA imports, Gao said.

If Mr Trump were to follow through with all his threats, his administration ultimately would impose tariffs on $517 billion of Chinese goods. "That changes the equation".

The August surplus with the USA was larger than China's overall surplus of $27.91 billion for the month.

The President told reporters aboard Air Force One on Friday that he may expand his proposed tariffs as part of his ongoing trade war with China in which the two nations ramp up costs on each other's exports.

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President Trump said Friday that he has another $267 billion in tariffs ready to slap on China, calling his testy relationship with that nation "a far bigger problem" than dealing with Russian Federation right now. "Exciting!" President Trump said, advising the tech giant over Twitter on Saturday as his motorcade drove from the White House to his Virginia golf club. Japan will have a "big problem" if it doesn't conclude a new trade deal with the USA, he said on Air Force One. Both countries have already slapped levies on $50 billion of each other's exports, and China promised on Thursday to respond to any U.S. escalation with "necessary countermeasures".

Kudlow, who heads the National Economic Council, told CNBC the administration was still talking with China about trade issues but so far China had not met USA requests.

The Trump administration had indicated it was ready to move ahead with a next round of tariffs after the end of a public comment period, which finished at midnight in Washington on Thursday, but the timing is uncertain, people familiar with the administration's plans said.

In a letter to USA officials as part of the public consultation on the measures, the company said some of Apple's Beats headphones and its new HomePod smart speaker would also face levies.

"We are still talking with China on a number of issues", said Kudlow.

"We have the patience to wait and we also have the flexibility to open talks any time".

"Our concern with these tariffs is that the United States will be hardest hit, and that will result in lower USA growth and competitiveness and higher prices for U.S. consumers", Apple said in the letter.

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