Trump administration considering sanctions over Chinese hackers

Trump administration considering sanctions over Chinese hackers

President TrumpDonald John TrumpTrump: Lincoln's Gettysburg Address was ridiculed by the "fake news" Trump thanks North Korea's Kim for promise to denuclearize during his tenure No NFL players visibly kneel during season opener MORE most recently on Friday threatened to impose another $267 billion in tariffs on Chinese products, on top of $200 billion in tariffs he promised one day earlier. China is promising to retaliate if the White House moves ahead with the new tariffs.

"The $200bn we are talking about could take place very soon depending on what happens with them". "And I hate to say that, but behind that, there's another US$267 billion ready to go on short notice if I want".

"That totally changes the equation", Trump said.

Trump has already imposed 25 percent tariffs on $50 billion worth of Chinese goods, mostly industrial machinery and intermediate electronics parts, including semiconductors.

Stocks dipped after the comments, with the S&P500 off 0.2 percent.

Some Chinese exporters say USA orders have declined, but Chinese leaders express confidence the economic impact will be modest.

Ancient Torah Scrolls Spared in Devastating Rio Museum Fire
With so little money and no way to modernize the building-which was built in 1803-the museum's curators feared for their exhibits. Aerial photos of the main building showed only heaps of rubble and ashes in the parts of the building where the roof collapsed.

Trump did not indicate whether the office of the US Trade Representative (USTR) had reached a decision regarding the rate of taxation of the latest round of tariffs, originally proposed at 10 per cent.

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. But 2018 imports from China through July were up almost 9 percent over the same period of 2017, according to U.S. Census Bureau data.

"An escalation of the tariff war could start to sever or disrupt supply chains, bringing about diminished production efficiency, higher costs and lost competitiveness - ultimately leading to a lower potential growth rate for both countries", analysts at S&P Global Ratings wrote on Wednesday.

"The Chinese aren't paying these tariffs, American families are going to pay these tariffs".

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 USA requests. Among the equipment hit were a number of components and devices used by United States tech firms, including chips and networking gear produced in Chinese factories. "However, hope springs eternal".

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