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

Alvis Upitis  Newscom

Alvis Upitis Newscom

The United States already has punitive tariffs on $50 billion in Chinese goods in place and another $200 billion are "in the hopper" and "could take place very soon", Trump said.

While China's response to USA demands has been unsatisfactory, Trump is still speaking to Xi, and would be open to meeting in person, said Kudlow, director of the White House's National Economic Council.

The $US200 billion list, which includes some consumer products such as cameras and recording devices, luggage, handbags, tires and vacuum cleaners, would be subject to tariffs of 10 per cent to 25 per cent.

White House Director of Trade Policy Peter Navarro discusses the August jobs report and how President Trump threatened to hit China with tariffs on $267 billion worth of goods.

He previously had threatened to hit 100 per cent of imports from China if the country failed to address USA concerns over theft of U.S. technology and barriers to American goods and investments. "Korea mainly ships intermediary goods to China, which would be affected by the tariffs when finished goods are exported to the U.S. Also, if the Chinese economy slows down further, it could hurt demand for Korean exports in the country".

The United States has demanded that China better protect American intellectual property, cut its USA trade surplus, allow U.S. companies greater access to its markets and roll back its high-technology industrial subsidy programs.

Trump has had Beijing in his crosshairs since he took office, and has applied increasing pressure to try to convince it to change its policies, allow more imports and reduce the US$335-billion U.S. trade deficit with China. Comparatively few applauded the tariffs.

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On Thursday, Cisco Systems Inc., Hewlett Packard Enterprise Co. and other technology companies sent a letter to U.S. Trade Representative Robert Lighthizer urging the administration to avoid imposing more tariffs. But David French, top lobbyist for the National Retail Federation, whose members include Amazon.com (AMZN.O), BJ's Wholesale Club (BJ.N) and Macy's (M.N), said almost every consumer good could be affected if Trump follows through on all threatened tariffs.

The Trump administration has offered aid to farmers impacted by the retaliatory trade moves, which include tariffs on US crops like soy beans.

The United States has demanded that China better protect American intellectual property, cut its US trade surplus, allow USA companies greater access to its markets and roll back its high-technology industrial subsidy programs. Among the equipment hit were a number of components and devices used by United States tech firms, including chips and networking gear produced in Chinese factories. Those talks will continue to go on.

"We will evaluate the comments and we will make a decision", Kudlow said, suggesting it could be some time before the fresh import charges will be levied.

Specifically, Kudlow said, the United States was seeking "zero tariffs, zero non-tariff barriers, zero subsidies, stop the IP theft, stop the technology transfer, allow Americans to own their own companies".

"Those have been our asks for many months and so far those asks have not been satisfied", he said.

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