Trump Ready to Tax an Additional $267B in Chinese Imports

Asia shares hit 14-month lows, yen advances on trade jitters

China Threatens Retaliation if President Trump's New $200 Billion Tariffs Go Ahead

"I hate to do this, but behind that there is another $267 billion ready to go on short notice if I want".

"To a certain extent it's going to be up to China", he said.

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.

President Donald Trump threatened on Friday (Sept 8) to slap tariffs on all of the Chinese goods imported into the United States, ramping up the already tense trade relations with Beijing. The U.S. imported US$505 billion of Chinese products in 2017, Census Bureau figures show.

Trump latest tariffs threats, if he follows through, would more than cover the value of all goods the USA buys from China, according to US government data from past year.

Beijing has vowed to retaliate, if the new ones go ahead.

The trade war the president has initiated between the world's two largest economies stems from concerns that China has deployed predatory tactics - including cyber-theft - to try to supplant America's technological supremacy. But 2018 imports from China through July were up almost 9 percent over the same period of 2017, according to U.S. Census Bureau data. China has warned that it would retaliate with import taxes on $60 billion worth of US goods.

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The president's tough line contrasted with remarks earlier from White House economic adviser Larry Kudlow, who left open the possibility of a negotiated solution to the trade dispute, but said China must show it's open to compromise. He has pointed to the large USA trade deficit - the gap between US imports and exports - with the People's Republic as a sign of that imbalance.

Most comments were from companies seeking to remove products from the tariff list, arguing there were few, if any alternative sources and the duties would cause financial hardship.

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

Speak on Air Force 1, Trump is talking tariffs.

However, she seemed to have a different position than Mexican Economy Minister Ildefonso Guajardo on the relationship between the NAFTA talks and the U.S. steel and aluminum tariffs.

"We will evaluate the comments and we will make a decision", Kudlow said, suggesting it could be some time before the fresh import charges will be levied.

"Those have been our asks for many months and so far those asks have not been satisfied", he said.

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