US President Donald Trump warned on Friday he was ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on another USD 267 billion of goods on top of USD 200 billion in imports primed for levies in coming days. Hours after a public comment period closed on his USD 200 billion China tariff list , Trump told reporters aboard Air Force One that he was being strong on China because I have to be. He told “The USD 200 billion we are talking about could take place very soon depending on what happens with them. To a certain extent it’s going to be up to China. And I hate to say this, but behind that is another USD 267 billion ready to go on short notice if I want. That totally changes the equation.”
Trump’s threatened tariffs, now totalling USD 517 billion in Chinese goods, would exceed the USD 505 billion in goods imported from China last year.
Trump has already imposed 25 per cent tariffs on USD 50 billion worth of Chinese goods, mostly industrial machinery and intermediate electronics parts, including semiconductors. The USD 200 billion list, which includes some consumer products such as cameras and recording devices, luggage, handbags, tires and vacuum cleaners etc, would be subject to tariffs of 10 per cent to 25 per cent.
Source : REUTERS
Yaang Pipe Industry Co., Limited (www.yaang.com)