Trump Ready to Tax an Additional $267B in Chinese Imports

US President Donald Trump's trade policy faces a key crossroads

China has said it would be forced to retaliate to all of the U.S.'s tariff measures, fanning concerns that a deepening trade war could dent the global economic outlook.

"I hate to say this, but behind that there is another US$267 billion ready to go on short notice if I want", Trump was reported by The Wall Street Journal as saying on Air Force One. "That totally changes the equation".

China said it is ready to impose retaliatory tariffs on $60bn worth of USA goods if that happens.

President Trump is digging into protecting the American worker against China by considering additional tariffs on $267 billion in Chinese imports.

The president's tough line contrasted with remarks earlier from White House economic adviser Larry Kudlow, who left open the possibility of a negotiated solution to the trade dispute, but said China must show it's open to compromise.

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

U.S. President Donald Trump walks to Marine One while departing the White House in Washington, U.S., September 6, 2018.

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.

The administration could decide to begin taxing the imports equal to almost 40pc of all the goods China sold the United States a year ago after a public comment period ends Thursday.

A truck transports a container next to stacked containers at a port in Zhangjiagang in China's eastern Jiangsu province. The administration should cease further tariffs actions and give another shot at talks for a trade deal with China, it said.

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The U.S. Trade Representative's office received almost 6,000 comments and held seven days of public hearings on the proposed levies.

Companies such as Cisco and Hewlett-Packard say tariffs on Chinese networking equipment will ultimately make it more expensive for American consumers to access the Internet.

The United States has demanded that China better protect American intellectual property, cut its USA trade surplus, allow US companies greater access to its markets and roll back its high-technology industrial subsidy programs.

Specifically, Kudlow said, the United States was seeking "zero tariffs, zero non-tariff barriers, zero subsidies, stop the IP theft, stop the technology transfer, allow Americans to own their own companies".

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