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

Tim Cook

The president, speaking to reporters aboard Air Force Once, said he's in the middle of reshaping America's trade policy on a number of fronts, from Canada and Mexico nearby, to China, South Korea and Japan overseas.

Over the first eight months of the year, China's surplus with its largest export market has risen almost 15 percent, adding to tensions in the trade relationship between the world's two largest economies.

The Trump administration may be about to slap tariffs of up to 25 percent on an additional $200 billion in Chinese goods, escalating a confrontation between the world's two biggest economies and likely squeezing U.S. companies that import everything from handbags to bicycle tires.

The two sides launched another salvo on August 23, imposing duties on United States dollars 16 billion worth of products from each country.

President Donald Trump says he could "very soon" impose tariffs on an additional $200 billion in imports from China.

The new taxes are in addition to a 25 percent levy on $200 billion worth of Chinese goods with which Trump has already threatened China. But Beijing will struggle to keep responding in kind as it imports less than Dollars 200 billion in United States goods per year.

Lighthizer is due to meet Monday in Brussels with EU Trade Commissioner Cecilia Malmstrom to resolve the dispute ignited when Trump imposed steep duties on all steel and aluminum imports.

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He added that he's ready to place yet another round of tariffs on $267 billion in Chinese goods after that - bringing the total imports from China subject to tariffs to more than $500 billion.

While China's trade surplus with the United States grew again, it remained stable with the rest of the world at US$27.9 billion in August.

"That totally changes the equation", Mr Trump said.

Kudlow's comments indicated the USA is looking for a deal with China to end the trade war between the world's two biggest economies.

White House Economic advisor Larry Kudlow told CNBC that talks between the US and China were ongoing. The US imported $505 billion of Chinese products in 2017, Census Bureau figures show.

The last effort at a negotiated solution came in late August with meetings between low-level officials, but nothing came of it. The US imported $505 billion in goods from China past year.

While U.S. businesses in China do not yet appear to face widespread retaliation, some company officials have said they are bracing for blowback.

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