China's exports, imports slowed sharply in August

China's exports, imports slowed sharply in August

China's exports, imports slowed sharply in August

Trump told reporters Friday that his administration was days away from imposing a new round of tariffs on imports worth $200 billion, and that it could follow up with another round of tariffs on goods worth an additional $267 billion.

Should the U.S. slap tariffs on an additional amount of Chinese goods of that scale, the total value subjected to the duties would be around that of total imports to the USA from China.

Trump has repeatedly called for companies to move production to the United States, or to keep it there, while pushing aggressive trade actions aimed at narrowing the U.S. trade deficit, which he equates with theft from Americans.

And then he went further, saying he's also ready to hit another 267 billion worth of imports right after.

The $200 billion we're talking about, could take place very soon, depending what happens with them. "To a certain extent it's going to be up to China", Trump said. "That totally changes the equation".

Stock prices slipped after his comments, with the S&P 500 off 0.2 percent, while China's off-shore trade yuan currency fell against the dollar.

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.

While no one predicted a sudden, sharp blow from USA tariffs, China's official export data has been surprisingly resilient so far, with growth exceeding analysts' expectations for five months in a row.

The public comment period on $200 billion of tariffs ended Thursday.

Those steps include slapping tariffs on $60 billion of U.S. imports, Gao said.

The company is highly exposed to a trade war between the USA and China.

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. "Lower barriers, open markets, quit stealing IP and technology", he said, using an abbreviation for intellectual property.

But businesses warn there are other ways China can strike back, through regulations and other administrative means, or even through sales of its large holdings of US Treasury debt. The tariffs would pressure China to stop that behaviour, the administration has said. "In the meantime, we are taking in billions of dollars of taxes coming in from China, and with the potential of billions and billions of dollars more taxes coming in".

"Those have been our asks for many months and so far those asks have not been satisfied", he said.

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