Trump threatens tariffs on all $500 billion of Chinese imports

Lloyd Doyle
July 20, 2018

In return, China levied taxes on the same value of USA products.

"I'm doing this to do the right thing for our country. He doesn't want to move, and they've offered the USA options regarding the issue of (intellectual property) theft and forced technology transfer", Kudlow said in an interview with the news outlet. On Thursday, automakers and vehicle-making nations such as Mexico criticized the administration's study into whether auto imports pose a risk to national security, which could lead to tariffs.

"We're down a tremendous amount", Trump said in an interview about trade imbalances with China on CNBC broadcast on Friday. China imports only $129.9 billion of United States goods, which leaves it little room for a tit-for-tat response. Earlier this month, the United States imposed tariffs on $34 billion of Chinese imports and China promptly levied taxes on the same value of US products. China hit back with its own levies.

Mr Trump also tweeted that China and the European Union were manipulating their currencies, creating an uneven playing field. China retaliated on the first wave of tariffs by slapping duties on the same dollar amount of US imports, and Beijing has said it'll fight against any further USA actions.

"It's proof, if it were needed, that the president is prepared to go all the way in the trade war to exact concessions from China, which simply can not match the United States firepower". The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals.

Wall Street Journal Global Economics Editor Jon Hilsenrath discusses how tariff threats and trade fears could impact economic growth. Mr Trump's tariffs and retaliation by trading partners could cut global economic output by 0.5% from projections for 2020.

Other reports by Iphone Fresh

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