Trump 'ready' to tax all Chinese imports - Whisper Eye

Trump ‘ready’ to tax all Chinese imports

US President Donald Trump says he is ready to intensify his trade war with China by slapping tariffs on all $500bn of imports from the country.

“I’m ready to go to 500,” he said in an interview with the CNBC channel.

Mr Trump’s comments come before the most recent round of US tariffs has had time to take effect.

Last week, Washington listed $200bn (£150bn) worth of additional Chinese products it intends to place tariffs on as soon as September.

The list named more than 6000 items including food products, minerals and consumer goods such as handbags, to be subject to a 10% tariff.

It is still under public consultation, to last until the end of August.

The President has also been complaining that a strengthening dollar has been hurting US business.

In a series of tweets he blamed the higher dollar on currency “manipulation” by China and the European Union.

Mr Trump also criticized the US Federal Reserve for raising interest rates.

“The United States should not be penalized because we are doing so well. Tightening now hurts all we have done,” he said in a tweet.

….The United States should not be penalized because we are doing so well. Tightening now hurts all that we have done.

The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals. Debt coming due & we are raising rates – Really?

The US and China have already imposed tit-for-tat tariffs of $34bn on each other’s goods. The President’s threat to raise that to $500bn represents a major escalation.

“We’re down a tremendous amount,” Mr Trump told CNBC, reiterating his view that China’s trade surplus with the US amounts to unfair trading practices.

When asked if the move might cause a stock market sell-off, he responded: “Well, if it does, it does.

Look, I’m not doing this for politics. I’m doing this to do this right thing for our country.”