Trump warns of tariffs on another $267 billion of Chinese imports

Trump warns of tariffs on another $267 billion of Chinese imports

Trump warns of tariffs on another $267 billion of Chinese imports

The Trump administration has already imposed tariffs on US$50 billion worth of shipments from its largest trading partner, with the US$200 billion tranche expected to come soon.

Mr. Trump told reporters on Air Force One that his plans to slaps taxes of up to 25 percent on Chinese imports would depend on the choices made by that country's leaders. "To a certain extent it's going to be up to China", Trump said.

The tariffs would potentially hurt USA companies that import everything from handbags to bicycle tires.

Earlier on Friday White House economic adviser Larry Kudlow said Trump will not make any decisions on his threatened tariffs on another US$200 billion worth of Chinese goods before officials evaluate public comments on them.

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Bloomberg News reported Friday that administration officials are discussing using an executive order that authorizes USA officials to impose the sanctions on those taking part in "malicious cyber-enabled activities". It would also be in addition to tariffs his administration has already imposed on $50 billion in Chinese imports, for which Beijing has retaliated with an equal amount of import taxes on USA goods.

In Beijing, China's Commerce Ministry said Thursday it was ready to retaliate.

Cell phones, the biggest US import from China, have so far been spared, but would be engulfed if Trump activates the $267 billion tariff list. Comparatively few applauded the tariffs.

Major technology company Apple Inc (AAPL.O) said a "wide range" of its products would be hit by the tariffs, but not its iPhone.

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To hedge against the Trump Administration's trade protectionist moves, Seoul has secured an exemption from steel tariffs in exchange for a quota, and agreed on a 25 percent tariff on Korean pickup trucks and a doubling of the import cap on US vehicles.

"We are confident, capable and able to maintain steady and healthy development of the Chinese economy", Gao said.

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

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".

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