Trump, escalating trade war, threatens tariffs on all goods from China

Asia shares hit 14-month lows, yen advances on trade jitters

Trump said on Friday he's willing to slap tariffs on an additional $267 billion in Chinese goods, on top of duties of $200 billion in imports is already considering.

Now Trump says he's got another $267 billion in tariffs ready to go on short notice if he wants.

The Trump administration hopes to curtail the theft of USA technology and intellectual property by Beijing, which Navarro says is the catalyst behind China's economic growth.

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

The US comment period on $200 billion of proposed tariffs ended yesterday.

Bloomberg News reported Friday that administration officials are discussing using an executive order that authorizes USA officials to impose the sanctions on those taking part in "malicious cyber-enabled activities".

The US has already imposed tariffs on $50 billion in Chinese imports, and Beijing punched back with an equal amount.

The Nasdaq 100 Index capped its worst week since March as Apple slumped on its warning that the Trump administration's musing over levying virtually everything imported from China would hit a broad range of its products.

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Many American companies that rely on targeted Chinese imports are bracing for the next round of tariffs to hit, with some wondering whether they can absorb the higher costs or instead will need to pass them along to their customers - or find alternatives suppliers outside China.

"The $200 billion we are talking about could take place very soon depending on what happens with them".

In Beijing, China's Commerce Ministry said Thursday it was ready to retaliate. The U.S. Trade Representative's office received almost 6,000 comments during the public comment period on the proposed levies, which ended Thursday night.

Most comments were from companies seeking to remove products from the tariff list, arguing there were few, if any alternative sources and the duties would cause financial hardship.

In short, the White House is mulling slapping tariffs on $200bn of Chinese kit imported into the States - and the Command-in-Chief is suggesting ballooning that figure to $467bn.

Kudlow, who heads the National Economic Council, told CNBC the administration was still talking with China about trade issues but so far China had not met US requests. Those talks will continue to go on. Those tactics, the Office of the US Trade Representative has alleged, include stealing trade secrets through computer hacking and forcing US companies to hand over technology in exchange for access to the Chinese market.

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

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