I’m ready to put tariffs on every import from China, US President Donald Trump warns
US leader says China has been ‘ripping off’ the United States for years and he’s willing to go ahead with extra tariffs on US$500 billion in Chinese goods
US President Donald Trump has said he is willing to slap tariffs on all Chinese products imported to the United States, a threat that could propel the world’s two biggest economies into an all-out trade war.
“I’m ready to go to 500 [billion dollars],” Trump told CNBC’s Joe Kernen on Friday, suggesting that every Chinese product would be subject to duties. “We have been ripped off by China for a long time.”
The “tremendous amount” threatened by Trump is roughly equivalent to the US$505.5 billion in Chinese products imported by the US last year. China, on the other hand, buys far less from the US, with last year’s total just US$130 billion.
Washington imposed tariffs on US$34 billion of Chinese products on July 6, prompting similar action from China. Then last week the US threatened to slap 10 per cent duties on another US$200 billion worth of the goods.
Trump’s threat caps a week of acrimony.