Published: Sat, September 08, 2018
Money | By Arnold Ball

Trump turns up the heat in trade conflict with China

Trump turns up the heat in trade conflict with China

Earlier speculation was that those tariffs, proposed in July, would take effect in early October, though trade associations have been gearing up for the announcement to come as early as the end of this week.

Trump said on Air Force One that he was ready to launch tariffs on 200 billion dollars worth of imports in the coming days.

Trump said he was not prepared to make a deal with China "that they'd like to make". "That changes the equation".

If the administration moved ahead, it would more than cover the entire value of goods imports from China, according to US government data from past year.

But the higher cost of wages in the United States could offset the benefits Apple might gain by avoiding tariffs affecting its products manufactured in China.

White House economic adviser Larry Kudlow just hours before said talks with Beijing were continuing to try to defuse the conflict, and that he was hopeful that a solution could be found. "We want lower (trade) barriers across the board", Kudlow said.

President Donald Trump, surrounded by business leaders and administration officials, prepares to sign a memorandum on intellectual property tariffs on high-tech goods from China, at the White House in Washington, March 22, 2018. US stocks erased gains after Trump's remarks.

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In light of such a US agenda, China should "maintain strategic determination" and "take care of our own matters", Long Guoqiang, vice president of the State Council's Development Research Center, wrote in the People's Daily, the official newspaper of the Chinese Communist Party.

Apple Inc. noted in a letter that the government's proposed tariffs on $200 billion cover a wide range of products used in its USA operations, including the Apple Watch.

It said some of the parts it relies on for product development, including processors and research equipment, would also be hit by the tariffs.

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.

"We are puzzled as to why the Administration may be using tariffs in part to re-engineer global ICT (information, communication and technology) supply chains that have served United States companies so well".

The Trump administration has already imposed 25% tariffs on $50 billion worth of Chinese goods, meant to punish Beijing for alleged unfair trade practices and intellectual property theft. "Now, they've got to treat us fairly", he said, and again threatened to impose duties on cars produced in Canada.

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