Trump poised to tax an additional $200B in Chinese imports

Galtero Lara
Setiembre 8, 2018

US President Donald Trump warned on Friday he was ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on another $267 billion of goods on top of $200 billion in imports primed for levies in coming days.

The president, speaking to reporters en route to Fargo, North Dakota, said he was ready to roll out even more tariffs on short notice, if he wants.

While the White House says they are still deliberating on the details of adding US$200 billion in Chinese imports to a list of tariff targets, President Trump said Friday that there is more where that came from. "That totally changes the equation".

Altogether, the USA tariffs could ultimately hit more than Dollars 500 billion in Chinese goods.

The administration could decide to begin taxing the imports equal to almost 40pc of all the goods China sold the United States previous year after a public comment period ends Thursday. "But I will say this: the world trading system is broken".

Talk of the bonus $267bn tariff package comes as the White House has yet to settle all of the specifics of the planned $200bn tariff prospoals - which, as we said, would follow up that earlier $50bn package.

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Navarro said the administration would "love to have a fair relationship with China", the world's second-largest economy.

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

A worker gestures as a crane lifts goods onto a cargo ship, at a port in Lianyungang, Jiangsu province, China, May 31, 2018.

The $200 billion list, which includes some consumer products such as cameras and recording devices, luggage, handbags, tires and vacuum cleaners, would be subject to tariffs of 10% to 25%. He has pointed to the large US trade deficit - the gap between USA imports and exports - with the People's Republic as a sign of that imbalance.

Trump has had Beijing in his crosshairs since he took office and has applied increasing pressure to try to convince it to change its policies, allow more United States imports and reduce the $335-billion U.S. trade deficit with China.

Apple Inc. noted in a letter that the government's proposed tariffs on $200 billion cover a wide range of products used in its U.S. operations, including the Apple Watch. "Now, they've got to treat us fairly", he said, and again threatened to impose duties on cars produced in Canada. Among the equipment hit were a number of components and devices used by USA tech firms, including chips and networking gear produced in Chinese factories. Those tactics, the Office of the US Trade Representative has alleged, include stealing trade secrets through computer hacking and forcing US companies to hand over technology in exchange for access to the Chinese market. "However, hope springs eternal".

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