Trump ready to set tariffs on all goods from China

Cisco Systems Inc. Hewlett Packard Enterprise Co. and other technology companies sent a letter to US Trade Representative Robert Lighthiser urging the administration to avoid imposing more tariffs

Hours after a public comment period closed on his $200 billion China tariff list, Trump told reporters aboard Air Force One that he was "being strong on China because I have to be". And I hate to say that, but behind that, there's another $267 billion ready to go on short notice if I want.

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

Stock prices slipped after his comments, which roiled technology and multinational shares.

President Trump acknowledged on Twitter that Apple prices could go up as a result of the "massive tariffs" he's proposing on China, but rather than accepting blame for a potential hike on popular consumer items, he said the company should move production to US shores.

It's not clear why the president cited the specific figure he used.

"If the U.S. dogmatically implements any new tariff measures against China, China will have to take the necessary countermeasures", commerce spokesman Gao Feng told reporters.

On Friday (September 8), Kudlow also told Bloomberg the administration would consider public comments before making a final call on the 200 billion list. These US goods include soybeans and beef a direct shot at supporters of President Donald Trump in the US farm belt.

And Mr. Trump said he's winning the escalating battle over trade policy between the USA and China, but said he has more trade sanctions in the works.

"The end game in the U.S. Things can change rather quickly, so the trade war, if a lot of the threats do materialise, I think things will turn very quickly".

For the Trump administration, Friday began with sunny signs for the labor market before Trump's hawkish trade-war rhetoric clouded the outlook.

"The hope is that this (NAFTA) puts a lot of pressure on the Chinas of the world to help us negotiate better reciprocal trade deals", Kevin Hassett, chair of the White House Council of Economic Advisers, said. The Shanghai market is down roughly 23 percent in dollar terms so far this year while the Dow has risen almost 5 percent.

The White House has accused China of stealing USA intellectual property and forcing American companies to share their technology with Chinese companies. "We're the hottest place in the world".

"I don't think this magnitude of tariffs has been priced into the markets", Lara Rhame, chief US economist at FS Investments, told Bloomberg Television in an interview.

But Kudlow said the USA goals are clear. Those tactics, the Office of the US Trade Representative has alleged, include stealing trade secrets through computer hacking and forcing US companies to hand over technology in exchange for access to the Chinese market. "These things are not hard".

The suggestion that Apple could easily move all of its manufacturing to the USA doesn't quite match up with the realities of the consumer electronics industry, which depends on China's significantly lower wages as well as the country's massive manufacturing infrastructure. By 2021, based on International Monetary Fund economic forecasts, the USA would lose about 1 percent of its annual output or about $230 billion while China would lose 0.6 percent of its $18 trillion economy that year or $110 billion.

In a tweet, Trump said there's an "easy solution" to Apple's potential woes that also came with a tax break: "Make your products in the United States instead of China".

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