Trump threatens to impose tariffs on all imports from China

Alvis Upitis  Newscom

While Trump was waving his proverbial stick, Top White House economic advisor Larry Kudlow made a paltry attempt to offer something of a carrot on Friday, saying that the United States is up for talks and that there is "constant communication".

The tariffs would potentially hurt USA companies that import everything from handbags to bicycle tires.

The Trump administration is poised to impose 25% penalties this week on $200 billion of Chinese goods in an escalation of their fight over US complaints that Beijing steals or pressures companies to hand over technology. China has said it's ready to impose retaliatory tariffs on $60 billion of USA goods.

"China will have to take necessary countermeasures if the US side ignores the opposition of the overwhelming major of its enterprises and adopts new tariff measures", Commerce Ministry spokesman Gao Feng said.

Trump is getting a last-minute earful from prominent technology companies and retailers as he considers whether to follow through with his plan to ratchet up tariffs on Chinese exports. -China trade spat, trade renegotiations among the U.S., Mexico and Canada, . experts say the Korean government and companies should monitor the changing trade front and continue their outreach efforts to negotiate with their U.S. counterparts to secure Korea's footing.

The US has already imposed tariffs on $50bn in Chinese products, and Beijing has punched back with tariffs on $50bn in American goods.

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U.S. President Donald Trump said on Friday that he has tariffs ready to go on a further US$267 billion worth of Chinese imports, as the world awaits his decision on imposing levies on US$200 billion worth of the Asian nation's goods.

"[China] structurally is geared toward being sort of the parasite of the world", White House National Trade Council Director Peter Navarro said during an interview on FOX Business' "Lou Dobbs Tonight" on Friday. "These are taxes and they're going to find their way into the pocket book of folks around the country", French said.

Earlier this year, the Trump administration imposed a package of tariffs on $50bn of incoming Chinese-made parts used for "aerospace, information and communication technology, and machinery". China has threatened retaliation, which could include action against US companies operating there.

"We are still talking with China on a number of issues".

"It's never too late to make good trade policy", Kudlow said. "However, hope springs eternal".

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