Trump threatens to impose tariffs if necessary on all Chinese imports worth more than $500 billion

US President Donald Trump said in an interview that aired on July 20 that he was ready to impose tariffs if necessary on all Chinese goods imported into the United States. ā€œIā€™m ready to go up to 500,ā€ the Republican leader told CNBC, referring to the $505.6 billion in Chinese imports that were allowed into the United States in 2017.

“I’m not doing this for politics. I’m doing the right thing for my country,” Trump said. “China has been lying to us for years,” he added. After weeks of fruitless negotiations, the United States imposed 25% tariffs on nearly $34 billion worth of Chinese technology products and equipment earlier this month. China immediately announced it would retaliate in kind.

The US is considering additional imports worth $16 billion and may soon add them to its tariff schedule. The United States also plans to impose tariffs in September targeting an additional $200 billion in Chinese goods. China has accused the United States of starting the biggest trade war in economic history. Trump reiterated in the full interview published on July 20 that the United States is opportunistic on many issues, including trade policy. “I don’t want to scare them. I wish them luck. I love President Xi very much. But that’s not fair,” Trump said. In excerpts from an interview that aired July 19, Trump expressed displeasure with the independent US central bank’s decision to raise interest rates, breaking with the administration’s traditional practice of did not comment on the central bank’s actions.

On July 20, Trump launched a fresh attack on US trading partners, claiming that the European Union and China were speculating on the value of their currencies. While the value of the US dollar has surged, China’s Trump has criticized on Twitter that the European Union and other countries are speculating in their currencies and lowering interest rates, undermining their competitive advantage. their greatness.

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