Trump Threatens to Slap Tariffs on Everything Imported From China

‘Been ripped off by China for a long time’: Trump threatens to slap tariffs on all USD 505 bn of Chinese imports

‘Been ripped off by China for a long time’: Trump threatens to slap tariffs on all USD 505 bn of Chinese imports

"We're down a tremendous amount", Trump said in the interview, which was recorded on Thursday, about trade imbalances with China.

U.S. President Donald Trump participates in a cabinet meeting at the White House in Washington, U.S., July 18, 2018.

Asked on CNBC if he is ready to go to $500 billion - a number that almost matches the $505 billion in products that China exported to the 2017 - Trump said, "I'm ready to go to 500".

Earlier this month, United States imposed tariffs on $34 billion of Chinese imports.

Additionally, Business Insider reports that "manufacturers from China's Jiangsu and Hebei provinces, who have reportedly produced hundreds of "Make America Great Again" hats, have said the cost of their product is likely to spike due to impending tariffs". In return, China levied taxes on the same value of US products.

"I'm not doing this for politics, I'm doing this to do the right thing for our country", Trump said.

After weeks of apparently fruitless negotiations, the United States early this month imposed 25 per cent tariffs on approximately US$34 billion of Chinese mechanical and technological products - sparking an immediate response from Beijing, which said it would hit back dollar for dollar.

Along with pressing Chinese leaders to shrink the deficit, Trump's administration has accused China of engaging in unfair trade practices by forcing American investors to turn over technologies to Chinese firms. "I want them to do well", the agency quotes the president as saying.

White House economic adviser Larry Kudlow tells Axios that if Xi is trying to hurt Trump ahead of the midterms in hopes of getting a better deal after Republicans take an electoral loss, "That's a very bad bet". China has called the comments distorted and bogus.

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