Trump says U.S. tariffs could be applied to Chinese goods worth $500 billion
Source: Reuters
WASHINGTON/BEIJING (Reuters) - President Donald Trump said on Thursday the United States may ultimately impose tariffs on more than a half-trillion dollars worth of Chinese goods as the worlds two largest economies hurtled toward the start of a trade war.
Trump confirmed that the United States would begin collecting tariffs on $34 billion in Chinese goods at 12:01 a.m. Washington D.C. time (0401 GMT) on Friday and warned that subsequent rounds could see tariffs on more than $500 billion of goods, or roughly the total amount that the United States imported from China last year.
You have another 16 (billion dollars) in two weeks, and then, as you know, we have $200 billion in abeyance and then after the $200 billion, we have $300 billion in abeyance. Ok? So we have 50 plus 200 plus almost 300, Trump told reporters aboard Air Force One.
Trumps comments appeared to increase the stakes for potential retaliation by China. Previously, Trump had threatened up to impose additional tariffs on goods worth $400 billion should China follow through on its plans to retaliate against the initial U.S. tariffs on Chinese goods including autos, computer disk drives, pump and valve parts and light-emitting diodes.
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Read more: https://www.reuters.com/article/us-usa-trade-china/trump-says-u-s-tariffs-could-be-applied-to-chinese-goods-worth-500-billion-idUSKBN1JV063
beachbum bob
(10,437 posts)He still doesn't get it.
Bernardo de La Paz
(49,001 posts)SergeStorms
(19,200 posts)and so does Vladimir Putin.
Voltaire2
(13,027 posts)When are the Koch bros and the other monied Republicans going to figure out he is going to wreck their house if they dont throw him out of the party?
roamer65
(36,745 posts)No subsidies to any businesses impacted by these tariffs.
moose65
(3,166 posts)How is he able to just impose tariffs like that? Doesnt Congress have any oversight of this? Ive never heard of a president doing this in my life! Is he just threatening to impose tariffs or has he already done it?
Flaleftist
(3,473 posts)can impose tariffs for national security purposes. Congress does have the power to pass legislation to stop him, but so far they seem unwilling to do so.
NickB79
(19,236 posts)James48
(4,435 posts)They are all boycotting Walmart now for selling those hot-item Impeach 45 T-shirts.