Another $267B China tariffs ready to go after $200 already announced

US President Donald Trump

US President Donald Trump

The figures were released hours after President Donald Trump threatened to slap tariffs on the totality of Chinese goods imported into the United States, worth half a trillion dollars. "And I hate to say this, but behind that is another US$267 billion ready to go on short notice if I want".

China's trade surplus with the United States widened to a record in August even as the country's export growth slowed slightly, an outcome that could push President Donald Trump to turn up the heat on Beijing in their cantankerous trade dispute.

The new duties will start to hit consumer products directly, including furniture, lighting products, tires, bicycles and vehicle seats for babies.

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.

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".

The Trump administration may be about to slap tariffs of up to 25 percent on an additional $200 billion in Chinese goods, escalating a confrontation between the world's two biggest economies and likely squeezing United States companies that import everything from handbags to bicycle tires. The US imported $505 billion in goods from China previous year. China plans to tax an additional $60 billion in U.S. products if the Trump administration expands its hit list by $200 billion. US stocks erased gains after Trump's remarks. "The trade wars only serve as a catalyst for the turning of the cycle". Comparatively few applauded the tariffs.

Brady in the midst of another drive for five — PATRIOTS NOTEBOOK
On average, the Pats quarterback was pressured on 31.1 percent of his drop-backs last season and sacked only 2.4 times per game. We think the public is too high on the Texans, and I'm hammering the Patriots -6.5 this week. "I'm very excited", Hopkins said.

"The Chinese aren't paying these tariffs, American families are going to pay these tariffs".

While those numbers wouldn't derail the economy - Zandi forecasts that growth would reach 3 percent this year - "you'd start to feel it", Zandi said.

White House Economic advisor Larry Kudlow told CNBC that talks between the USA and China were ongoing.

Levying duties on all Chinese purchases would hit "every aspect of our American lifestyle - so the clothes that we put on our back, the food that we eat, the cars that we drive, theshoes that we wear", Hun Quach, vice president of worldwide trade for the Retail Industry Leaders Association, said by phone.

Trump has been locked in a trade dispute with Beijing over China's policy of forcing U.S. companies to hand over trade secrets, as a price of doing business in China.

Latest News