Another $267B China tariffs ready to go after $200 already announced

Trump signals escalation of trade war with China, says he has tariffs ready on another $267-billion of imports

The new taxes are in addition to a 25 percent levy on $200 billion worth of Chinese goods with which Trump has already threatened China.

The deadline for public comment on the next wave of punitive taxes on $200 billion of annual imports from China expired Thursday, so Trump could impose the tariffs immediately. 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.

Mr Trump has boasted that trade wars are "easy to win" and warned he would hit virtually all Chinese imports if Beijing does not back down and take steps to reduce its US$335 billion surplus with the US. To a certain extent its going to be up to China, Trump said.

Now Trump says he's got another $267 billion in tariffs ready to go on short notice if he wants.

"That totally changes the equation", Trump said.

President Trump acknowledged on Twitter that Apple prices could go up as a result of the "massive tariffs" he's proposing on China, but rather than accepting blame for a potential hike on popular consumer items, he said the company should move production to US shores.

Apple Announces iPhone 8 Logic Board Replacement Program
In addition to the rumoured moniker and larger size, the iPhone XS Max (or iPhone XS Plus) is expected to offer a huge battery. The largest of the three is potentially the 6.5-inch iPhone XS Plus/Max and is seen rocking a dual-camera setup on the back.

But the higher cost of wages in the United States could offset the benefits Apple might gain by avoiding tariffs affecting its products manufactured in China.

"The U.S.is moving higher", Lawrence Kudlow, director of the National Economic Council, said on CNBC.

Washington is demanding Beijing improve market access and intellectual property protections for US companies, cut industrial subsidies and slash a $375 billion trade gap.

Trump's now threatened tariffs on a total of 517 billion dollars in Chinese imports - a figure that eclipses the total amount of goods imported from China to the USA previous year.

That list includes some consumer products, like cameras, luggage and tires and they'd be subject to tariffs of 10-25 percent. Still, disagreements between the two major economic powers run deeper than just the trade balance and tensions remain over limits on USA firms' access to Chinese markets, intellectual property protection, technology transfers and investment.

"These are basically fiscal subsidies to offset the negative impacts of the tariffs", said Li Yishuang, a Shanghai-based economist at China Securities Finance Co. "In the meantime, we're taking in billions of dollars of taxes coming in from China, with the potential of billions and billions of dollars more taxes coming in". "It's just another indication we're not out of the woods yet", she said.

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