Trump poised to tax an additional $200bn Chinese imports

US President Donald Trump

The period for public comment on the ramifications of tariffs on China ended on Thursday, and the Trump administration's plan to impose tariffs on US$200 billion (S$275 billion) worth of Chinese imports, from cameras to bicycles to baseball gloves, could kick in soon, with the President showing little sign of relenting.

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

"To a certain extent it's going to be up to China", the president says.

Tech companies are also weighing in, with HPE, Cisco, Dell, and Juniper penning a letter to US Trade Rep Robert Lighthizer asking him to hold off on imposing additional tariffs on networking gear, arguing the penalties would only serve to hurt their business in the US. But 2018 Chinese imports through July were up almost 9 per cent over the same period of 2017, according to US Census Bureau data.

The tariffs that Trump has imposed, and threatened to impose, total $517 billion - more than the $505 billion in Chinese goods that entered the country past year.

In June, Trump imposed 25% tariffs on $50 billion worth of Chinese goods, mostly industrial machinery and intermediate electronics parts, including semiconductors.

"That changes the equation", he added.

In addition to its Apple Watch and its wireless Air Pods, Apple (AAPL) said tariffs would affect the Apple Pencil, HomePod and MacMini, along with adapters, cables and chargers. "Things can change rather quickly, so the trade war, if a lot of the threats do materialise, I think things will turn very quickly".

Washington is demanding Beijing improve market access and intellectual property protections for USA companies, cut industrial subsidies and slash a $375 billion trade gap. "In the meantime, we are taking in billions of dollars of taxes coming in from China, and with the potential of billions and billions of dollars more taxes coming in".

While no one predicted a sudden, sharp blow from United States tariffs, China's official export data has been surprisingly resilient so far, with growth exceeding analysts' expectations for five months in a row. And China has vowed to hit $60bn in USA products in retaliation.

"We will continue to talk to China".

The administration could decide to begin taxing the imports - equal to almost 40 percent of all the goods China sold the United States previous year - after a public comment period ends on Thursday.

Specifically, Kudlow said, the United States was seeking "zero tariffs, zero non-tariff barriers, zero subsidies, stop the IP theft, stop the technology transfer, allow Americans to own their own companies". "But right now, we just can't make that deal", he said. "(Our) asks have not been satisfied", he said.

Related news:

Hot News

isis-killer-beheading-video-story-top Spain: Manager Luis Enrique Bans Board Games and PlayStation
Sep 08, 2018 - 22:16
We want to absorb Enrique's knowledge."It is a new coach which always demands more attention". Enrique was named coach of Spain after the early exit in 2018 World Cup tournament.

isis-killer-beheading-video-story-top McIlroy & Woods slip back as Schauffele catches fire
Sep 07, 2018 - 21:20
Woods hit his tee shot at the par-3 17th in a bunker, blasted out to 8 feet, and his par effort horseshoed out. He still hit 14 of 18 greens, but just didn't give himself as many chances.

isis-killer-beheading-video-story-top Rescuers continue search for survivors after Japan quake
Sep 07, 2018 - 21:16
Japan is used to dealing with disasters, but the last few months have brought a string of calamities. It could take a week to restore power fully to all residents, Industry Minister Hiroshige Seko said.

isis-killer-beheading-video-story-top U.S., India seal military communications pact, plan more exercises
Sep 07, 2018 - 19:28
During the 2+2 Dialogue, officials from India and the United States look forward to discussing diplomatic and security issues. Seperately, Dunford said, "India is one of our premier security partners and an important and influential global leader".

isis-killer-beheading-video-story-top Missouri college plans to strip athletes of Nike branding over Kaepernick controversy
Sep 07, 2018 - 17:53
Kaepernick is now in litigation against the NFL, claiming that team owners colluded to keep him out of the league. DONALD TRUMP has slammed Nike for featuring Colin Kaepernick in its Just Do It 30th anniversary campaign.

isis-killer-beheading-video-story-top Iranian forces arrive in Syria to fight in Idlib
Sep 07, 2018 - 17:45
Turkey also doesn't want to see another YPG/PKK-controlled area rise along its border, as it already faces in northern Iraq. Abdurrahman said suspected Russian warplanes carried out the air strikes, which came just hours ahead of the Tehran summit.

isis-killer-beheading-video-story-top Barcelona 8, Huesca 2: Messi inspires at Camp Nou
Sep 06, 2018 - 05:55
Barcelona returned to the Camp Nou in some style after running riot by an 8-2 score line against La Liga's newcomers SD Huesca. Barcelona now sit on the top of the pile alongside Real Madrid who also boast a 100% record in the Spanish League.

isis-killer-beheading-video-story-top Oil Prices Jump As Gulf Of Mexico Rigs Evacuated
Sep 06, 2018 - 05:11
The high rig count has helped lift US crude production C-OUT-T-EIA by more than 30 percent since mid-2016 to 11 million bpd. The bank also said it expects Brent to average at $75 per barrel, a huge jump from its prior prediction of $55 per barrel.

isis-killer-beheading-video-story-top USA senators question Kavanaugh about his record and legal positions
Sep 06, 2018 - 04:30
Trump's Justice Department has said it will not defend the law against pending challenges from the states. Kavanaugh promised a "completely open mind" if such issues came before him as a Supreme Court justice.

isis-killer-beheading-video-story-top Russian Federation says Syria has right to chase militants out of Idlib
Sep 06, 2018 - 03:44
There were also reports that terrorist factions in Idlib were literally setting the stage for a false flag chemical "incident". Since then, hundreds of thousands of people have been killed and millions displaced in the conflict, according to the UN.

isis-killer-beheading-video-story-top Kyl sworn in to fill McCain's seat
Sep 06, 2018 - 03:32
If Kyl leaves in January, Ducey or his successor must appoint a Republican to fill the seat, according to state law. "Now, Sen. When Kyl joins the Senate, Republicans will restore their 51-to-49 advantage over Democrats for the first time this year.

isis-killer-beheading-video-story-top Lionel Messi finally breaks silence on Cristiano Ronaldo's move to Juventus
Sep 05, 2018 - 23:24
He will face competition from former Real teammate Mordic, who played a key role in the Spanish giants' Champions League victory. Croatia midfield ace Modric has been touted to win the award after clinching the 2018 FIFA World Cup's best player award.

isis-killer-beheading-video-story-top New book details Trump's 'Crazytown' White House
Sep 05, 2018 - 23:23
When asked about the allegations, US Ambassador to the UN Nikki Haley denied ever hearing threats made by Trump against al-Assad. In a recording of the conversation, released on Tuesday by the Washington Post , Trump told Woodward: "you've always been fair".

isis-killer-beheading-video-story-top Twitter CEO Jack Dorsey tweets opening testimony during congressional hearing
Sep 05, 2018 - 21:29
Now, executives from some of those giants will tell lawmakers the steps they have taken since to prevent similar attacks. Google says it continues to use "advanced technologies" to increase security and fight manipulation on its platforms.

isis-killer-beheading-video-story-top New NAFTA agreement must include Canada, critics tell Donald Trump
Sep 03, 2018 - 22:12
Ujczo said the "real test" of the president's trade policy lies not with Trump but rather with his base of support. Canada, however, maintained that it would sign a deal that is good for its people.