Implementing both sets of tariffs would subject virtually all US imports from China to new duties as the world's two largest economies escalate their trade war over Trump's demands that Beijing make major economic policy changes.
US-CHINA TRADE: Traders fear that the Trump administration is on the cusp of imposing tariffs of up to 25 percent on an additional $200 billion in Chinese imports, once a public comment period ends Thursday.
"We've taxed them $50 billion - that's on technology", the president told reporters aboard Air Force One. "I hate to this, but behind that there is another [US]$267 billion ready to go on short notice if I want". "That changes the equation".
President Trump talks to MTN News
At some point, the Trump team appeared to have had enough. "It's why he's paying a second visit to my state", he wrote. The president says it would "need to be a fair deal" for him to sit down for an interview with Mueller's investigators.
He pointed out that 23 per cent of the impending tariffs on US$200 billion of Chinese imports targeted consumer products.
The U.S. trade deficit rose to a five-month high in July as exports of soybeans and civilian aircraft declined and imports hit a record high, suggesting the Trump administration's protectionist policy was so far not having an impact.
The Trump administration is ready to move ahead with the next round of tariffs after a public comment period ends at midnight in Washington on September 11, but the timing is uncertain, people familiar with the administration's plans told Reuters. "Recent data shows that China's foreign trade has stabilized and the growth momentum has been consolidated".
Beijing upset over British warship in South China Sea
Hua then went on to say China is firmly opposed to this manoeuvre and has expressed its strong dissatisfaction to the British. China claims more than 80% of the South China Sea based on a 1947 map showing vague dashes - the so-called ninedash line.
AirPods headphones, some of Apple's Beats headphones, and its new HomePod smart speaker also face levies as part of proposed 10 per cent tariffs on US$200 billion worth of Chinese goods, according to an unsigned letter the company submitted on Wednesday to USA officials as part of a public comment period. Apple said the tariffs would raise the cost of its USA operations and put it at a disadvantage to foreign rivals.
On Friday, President Donald Trump announced the possibility that he will impose tariffs on all remaining Chinese-made products imported into the United States. "More broadly, tariffs will lead to higher USA consumer prices, lower overall US economic growth, and other unintended economic consequences". Apple said it was "difficult to see" how tariffs would advance the government's goal. On Twitter, Trade lawyer Scott Lincicome pointed out that an iPhone would be more expensive to manufacture here in the USA, citing a Marketplace report from 2014 that suggested that the component cost of an iPhone in China was around $190 per phone. But, as the Guardian noted, Trump's tariffs are not working.
"Our concern with these tariffs is that the USA will be hardest hit, and that will result in lower US growth and competitiveness and higher prices for USA consumers", the company wrote.
John Legend Secures the "E" in His EGOT
The remainder of the 70th Annual Emmy Awards winners will be announced on Monday, September 17 on NBC. In 2017, he won a Tony for Best Revival of a Play for his role as a co-producer of Jitney .
White House Economic advisor Larry Kudlow told CNBC that talks between the USA and China were ongoing.