Doubling of China trade tariffs 'ready to go'

Doubling of China trade tariffs 'ready to go'

But so far China had not met the Trump administration's requests.

His comments, which contradicted the more diplomatic remarks earlier Friday from his top economic adviser, sent the stock market plunging amid fears of the economic damage that could result from the multi-front trade war he pursues.

The large surplus has always been a sore point in relations and is at the centre of the increasingly bitter dispute between the world's two biggest economies.

He added: "We've taxed them $50 billion that's on technology".

Chinese officials acknowledged Chinese exporters have been rushing out shipments to beat new USA tariffs, buoying the headline growth readings, while some companies such as steel mills are diversifying and selling more products to other countries.

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

Cell phones are the biggest US import from China, and so far they've been spared.

China's trade surplus with the United States widened by 10 per cent in August to US$31 billion, data showed on Saturday as the trade war between the two nations escalated with Donald Trump threatening duties on more Chinese imports.

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"Because all tariffs ultimately show up as a tax on USA consumers, they will increase the cost of Apple products that our customers have come to rely on in their daily lives", the company said.

The president's comments Friday came one day after a public comment period ended on his proposed taxes of up to 25 percent on $200 billion of Chinese imports.

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

White House Economic advisor Larry Kudlow told CNBC that talks between the USA and China were ongoing.

Zhang said the impact from United States tariffs on China's exports would likely be limited over the next few months. -China Business Council, said in a letter to members over the weekend. "The trade wars only serve as a catalyst for the turning of the cycle".

"China will have to take necessary countermeasures if the United States side ignores the opposition of the overwhelming majority of its enterprises and adopts new tariff measures", Commerce Ministry spokesman Gao Feng said Thursday.

In addition to its Apple Watch and its wireless Air Pods, Apple (AAPL) said tariffs would affect the Apple Pencil, HomePod and MacMini, along with adapters, cables and chargers.

"We have the patience to wait and we also have the flexibility to open talks any time". "We want lower (trade) barriers across the board".

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