Trump threatens tariffs on almost all of China's USA imports

Trump threatens tariffs on almost all of China's USA imports

Trump threatens tariffs on almost all of China's USA imports

China's trade surplus with the United States ballooned to a new record US$31 billion in August despite a raft of USA tariffs, official data showed Saturday, adding fuel to the flames of a searing trade war.

Mr Trump imposed customs duties of up to 25 per cent on US$34 billion worth of Chinese goods in July, and on another US$16 billion in August, triggering swift tit-for-tat responses from Beijing.

A "wide range" of Apple Inc AAPL.O products including the Apple Watch would be affected by proposed USA tariffs on Chinese goods, the company told US trade officials, but gave no sign of an impact on its iPhone cash cow. The company makes a large percentage of its products in China.

If Mr Trump were to follow through with all his threats, his administration ultimately would impose tariffs on $517 billion of Chinese goods. For example, the proposed tariffs cover Apple Watch, which has become the top-selling smart-watch in the US and globally. Make your products in the United States instead of China.

The potential tariffs would come on top of punitive levies on $50 billion in Chinese goods already in place as well as another $200 billion that Trump says "could take place very soon". "Start building new plants now", Trump recommended.

The U.S.'s ability to continue to dominate telecommunications technology, including the upcoming fifth-generation phone networks, will be hampered by the levy on imports from China. But 2018 imports from China through July were up almost 9% over the same period of 2017, according to US Census Bureau data.

"Our concern with these tariffs is that the US will be hardest hit, and that will result in lower USA growth and competitiveness and higher prices for USA consumers", the company wrote.

The White House has accused China of stealing U.S. intellectual property and forcing American companies to share their technology with Chinese companies.

He told reporters traveling with him to Fargo, North Dakota "behind that, there's another $267 billion ready to go on short notice if I want". The tariffs would pressure China to stop that behavior, the administration has said. "That changes the equation".

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