Trump ready to set tariffs on all goods from China

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

The U.S.in July began imposing tariffs on $50 billion in Chinese industrial imports as Trump moved to confront Beijing over a range of policies that have long vexed American leaders.

"Our concern with these tariffs is that the USA will be hardest hit, and that will result in lower U.S. growth and competitiveness and higher prices for United States consumers", the company said.

President Trump responded to Apple's concerns about tariffs with a tweet Saturday morning, acknowledging that Apple products could get more expensive as a result of his administration's escalating trade war with China.

So far this year, US imports from China are running roughly 8 percent higher than during the same period in 2017.

Earlier on Friday, White House economic adviser Larry Kudlow told Bloomberg Television the administration would evaluate public comments before making decisions on the $US200 billion tariff list. The company noted it spent $50 billion with 9,000 USA suppliers in its most recent fiscal year, including Texas-based chip firm Finisar Corp and Kentucky-based Corning Inc. The US imported $505 billion in goods from China a year ago.

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The world's largest trading nation got off to a strong start this year, but its economic outlook is being clouded by the rapidly escalating US trade dispute and cooling domestic demand.

Trump initiated the trade war to punish Beijing for what it says are China's predatory tactics to try to supplant U.S. technological supremacy. And China has vowed to hit $60 billion in United States products in retaliation. China has said it's ready to impose retaliatory tariffs on $60 billion of US goods. Trump has said the tariffs are necessary to punish Beijing for what he says are its unfair trade practices and intellectual property theft.

A part of Apple's letter, which was first reported on by Bloomberg, reads, "It is hard to see how tariffs that hurt US companies and USA consumers will advance the Government's objectives with respect to China's technology policies".

A truck transports a container next to stacked containers at a port in Zhangjiagang in China's eastern Jiangsu province. Those talks will continue to go on. -China negotiations, saying Trump wants to push structural reform on China, not simply divert the flow of goods in bilateral trade. No surprise that U.S. CEOs are losing sleep over all the unknowns being thrown into the mix.

But Kudlow said the USA goals are clear. "But right now, we just can't make that deal", he said.

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