Trump threatens tariffs on all imports from China

Trump signals escalation of trade war with China, says he has tariffs ready on another $267-billion of imports

U.S. President Donald Trump on Friday (September 8) upped the ante on China, threatening to slap tariffs on virtually all Chinese imports coming in to the U.S.

And then he went further, saying he's also ready to hit another 267 billion worth of imports right after. On Friday President Trump said he was prepared to punish China with additional duties, this time on $267 billion in Chinese goods.

The moves would sharply escalate Trump's trade war with Beijing over his demands for major changes in economic, trade and technology policy. Germany's DAX fell 0.3 percent to 11,927, after the country's trade surplus dipped to four-year low. It also has a sizable business in China, which the Chinese could target in retaliation for USA trade actions.

Earlier on Friday, White House economic adviser Larry Kudlow told Bloomberg Television the administration would evaluate public comments before making decisions on the $US200 billion tariff list.

"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. This amount would be in addition to previously-implemented tariffs on $50 billion in Chinese goods.

On the $200 billion list are consumer products such as cameras, suitcases, tires and vacuum cleaners, which would see a tariff of 10% to 25% levied upon them. China plans to tax an additional $60 billion in U.S. products if the Trump administration expands its hit list by $200 billion.

The period for public comments for the tariffs ended on Thursday, but a spokesperson for the White House said that the USTR was conducting a thorough review of all public submission.

More news: Financial data of nearly 400,000 British Airways customers stolen in data breach

Beijing has warned that it would hit back with duties on $60 billion in American products - a much smaller figure that shows China will not be able to match United States tariffs dollar-for-dollar.

Notably, Apple did not cite the iPhone as a product which may be impacted. The company said on its website that it spent over $50 billion for goods purchased from US suppliers previous year.

If both sets of tariffs go ahead it would mean virtually all of China's USA exports would be subject to new duties. "Start building new plants now", Trump wrote.

In its filing, Apple challenged that approach, writing that "it is hard to see how tariffs that hurt US companies and USA consumers will advance the Government's objectives with respect to China's technology policies". "These are taxes and they're going to find their way into the pocket book of folks around the country", French said. The tariffs have now pulled the largest tech company in the U.S.in the crosshairs of the ongoing trade battles. The US products targeted by China include coal, copper scrap, fuel, buses and medical equipment.

Freeland told reporters she and US Trade Representative Robert Lighthizer will be "reviewing the work the officials have done" and said "the atmosphere continues to be constructive".

"Make your products in the United States instead of China".

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