Trump warns of tariffs on another $267 billion of Chinese imports

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The $200 billion we're talking about, could take place very soon, depending what happens with them.

President TrumpDonald John TrumpEx-Playboy model accuses GOP fundraiser Elliott Broidy of physical abuse: reports Cohen seeks to vacate hush-money deal with Stormy Daniels Stormy Daniels says she broke into "sobs" when she heard about Cohen's plea MORE on Saturday pitched what he called an "easy solution" for Apple to avoid his proposed tariffs on China: Make the products in the U.S.

Talk of the bonus $267bn tariff package comes as the White House has yet to settle all of the specifics of the planned $200bn tariff prospoals - which, as we said, would follow up that earlier $50bn package.

"I hate to do this, but behind that there is another $267 billion ready to go on short notice if I want", Trump said.

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

China announced measures to support some of the exporters targeted by US President Donald Trump's barrage of higher tariffs. He added that he's ready to place yet another round of tariffs on $267 billion in Chinese goods after that - bringing the total imports from China subject to tariffs to more than $500 billion.

That said, Apple didn't give an estimate of how much the proposed tariffs would contribute to the increased costs of its products.

White House Economic advisor Larry Kudlow told CNBC that talks between the US and China were ongoing.

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Washington is demanding Beijing improve market access and intellectual property protections for USA companies, cut industrial subsidies and slash a $375 billion trade gap.

"Our concern with these tariffs is that the US will be hardest hit, and that will result in lower USA growth and competitiveness and higher prices for USA consumers", the company said. But 2018 imports from China through July were up almost 9% over the same period of 2017, according to US Census Bureau data.

Given the smaller amount of goods China imports from the United States on which it could slap duties, Beijing has vowed to hit back with unspecified "qualitative" and "quantitative" measures, actions perceived within the US business community as likely to be increased customs and regulatory scrutiny.

In addition, the chip industry is a source of trade surplus for the United States, including with China, Intel argued.

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It said some of the parts it relies on for product development, including processors and research equipment, would also be hit by the tariffs. Still, disagreements between the two major economic powers run deeper than just the trade balance and tensions remain over limits on US firms' access to Chinese markets, intellectual property protection, technology transfers and investment. The tariffs would pressure China to stop that behaviour, the administration has said. Earlier this year, the company said that as part of tax reform it would spend $350 billion in the USA over the next five years.

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