U.S. President Donald Trump said he's ready to impose tariffs on an additional US$267 billion in Chinese goods on short notice, on top of a proposed US$200 billion that his administration is putting the final touches on.
But he told reporters traveling with him to Fargo, North Dakota that "behind that, there's another $267 billion ready to go on short notice if I want".
The tariffs would potentially hurt United States companies that import everything from handbags to bicycle tires.
The administration has already imposed 25% tariffs on $50 billion worth of Chinese goods. But David French, top lobbyist for the National Retail Federation, whose members include Amazon.com, BJ's Wholesale Club and Macy's, said almost every consumer good could be affected if Trump follows through on all threatened tariffs. It would also be in addition to tariffs his administration has already imposed on $50 billion in Chinese imports, for which Beijing has retaliated with an equal amount of import taxes on US goods. China has threatened retaliation, which could include action against USA companies operating there.
Mobile phones, the biggest USA import from China, have so far been spared, but would be engulfed if Trump activates the $US267 billion tariff list. China has warned that it would retaliate with import taxes on $60 billion worth of US goods.
That would cover virtually all the goods imported from the world's second largest economy.
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Netanyahu has attempted to persuade other countries to follow their lead. Negotiations between the two sides broke down in 2014.
"China will have to take necessary countermeasures if the United States side ignores the opposition of the overwhelming majority of its enterprises and adopts new tariff measures", Commerce Ministry spokesman Gao Feng said Thursday.
The Trump administration has offered aid to farmers impacted by the retaliatory trade moves, which include tariffs on USA crops like soy beans.
"Canada has been ripping us off for a long time".
"We are still talking with China on a number of issues". "But I will say this: the world trading system is broken".
"So the idea would be to table a solution to these trade aggressions before signing", Guajardo said at a conference in Mexico City.
The NAFTA talks between Washington and Ottawa have been hung up over Canada's insistence on retaining a dispute resolution mechanism in Chapter 19 and United States objections over Ottawa's tight controls over the dairy market.