Trump poised to tax an additional $200bn Chinese imports

Posted September 08, 2018

He added that the $200 billion will "take place very soon, depending on what happens".

Speaking in a television interview, White House economic advisor Larry Kudlow said that the administration would be reviewing the roughly 6,000 comments members of the public had made to the US Trade Representative on the $200bn proposals before deciding on how to proceed with the tariffs. Earlier speculation was that those tariffs, proposed in July, would take effect in early October, though trade associations have been gearing up for the announcement to come as early as the end of this week.

"That totally changes the equation", Mr Trump said.

Trump told reporters about the tariffs on Friday while returning to Washington DC from Montana, where he held a campaign-style rally Thursday night.

Such a move would subject virtually all USA imports from China to new duties.

Apple prices may increase because of the massive Tariffs we may be imposing on China - but there is an easy solution where there would be ZERO tax, and indeed a tax incentive.

Kudlow, who heads the National Economic Council, told CNBC the administration was still talking with China about trade issues but so far China had not met USA requests.

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Computer and phone makers are involved in a global supply chain that includes Chinese manufacturing, and that can not be easily excluded without harm to U.S. companies, Intel said in a letter to the trade representative.

That resulted in China posting a smaller overall trade surplus of US$27.91 billion for the month.

In June, Trump imposed 25% tariffs on $50 billion worth of Chinese goods, mostly industrial machinery and intermediate electronics parts, including semiconductors. And China has vowed to hit $60bn in U.S. products in retaliation.

In its letter this week to the Office of the U.S. Trade Representative, Apple said that "because all tariffs ultimately show up as a tax on United States consumers, they will increase the cost of Apple products that our customers have come to rely on in their daily lives".

The U.S. trade deficit widened for the second straight month in July, reaching the highest level since February, as imports hit an all-time high. "These are taxes and they're going to find their way into the pocket book of folks around the country", French said.

Despite several rounds of talks between USA and Chinese officials, the two countries have made little progress toward resolving their differences.

"We are puzzled as to why the Administration may be using tariffs in part to re-engineer global ICT (information, communication and technology) supply chains that have served U.S. companies so well".