Donald Trump threatens $267bn more tariffs on Chinese goods

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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.

But he told reporters traveling with him to Fargo, North Dakota that "behind that, there's another $267 billion ready to go on short notice if I want". "That totally changes the equation".

China has said it's ready to impose retaliatory tariffs on $60 billion of US goods.

The United States has demanded that China better protect American intellectual property, cut its US trade surplus, allow USA companies greater access to its markets and roll back its high-technology industrial subsidy programs.

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The president's comments Friday came one day after a public comment period ended on his proposed taxes of up to 25 percent on $200 billion of Chinese imports. "But I will say this: the world trading system is broken".

On Thursday, Cisco Systems Inc., Hewlett Packard Enterprise Co. and other technology companies sent a letter to U.S. Trade Representative Robert Lighthizer urging the administration to avoid imposing more tariffs.

The trade war could inflict further damage if it rattles financial markets, thereby hurting business confidence and potentially discouraging investment.

President Donald Trump is raising the stakes in his gamble that the world will line up behind the United States to take on China over trade.

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A package of tariffs worth $200bn is close to being imposed on Chinese imports to the United States and Trump's latest suggested round - which would be worth $267bn - would sharply escalate Trump's trade war with China.

The administration could announce the implementation timeline for the $200 billion in tariffs at any time.

Apple Inc. noted in a letter that the government's proposed tariffs on $200 billion cover a wide range of products used in its USA operations, including the Apple Watch. "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".

This new round of tariffs would bring the total imports from China subject to tariffs to more than $500 billion, or close to the total amount of goods that China exports to the U.S. But David French, top lobbyist for the National Retail Federation, whose members include, BJ's Wholesale Club and Macy's, said almost every consumer good could be affected if Trump follows through on all threatened tariffs. Those talks will continue to go on. "We want lower (trade) barriers across the board", Kudlow said. China has threatened retaliation, which could include action against United States companies operating there. "However, hope springs eternal".

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