Trump Threatens Additional Tariffs on $267 Billion of Chinese Goods

Trump Threatens Additional Tariffs on $267 Billion of Chinese Goods

-China trade situation would "get sorted out because there's an inescapable mutuality" between the two countries.

Rockland's relationship with China isn't all good, though.

On Friday, President Donald Trump announced the possibility that he will impose tariffs on all remaining Chinese-made products imported into the United States.

That's what the company told US Trade Representative Robert Lighthizer in a letter dated Wednesday, a last-ditch appeal to avoid additional tariffs on Chinese goods worth $200 billion that could go into effect as soon as Friday.

Apple spells out in clear terms which of its products would be most affected by the tariffs: The Mac Mini, Apple Pencil, HomePod, and many of its chargers and adapters would all become more expensive to produce.

The U.S. Trade Representative's public notice and comment period for the proposed additional tariffs ended Thursday.

The tariffs are meant to punish China for what the Trump administration says are unfair trading practices, including the forced transfer of intellectual property from USA companies trying to get a foothold in the Chinese market. If Trump's Republicans lose control of one or both houses of Congress, it will weaken Trump's leverage and strengthen China's, and represent of repudiation of Trump's trade policies by his own voters.

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Chinese exports to the United States rose to $44.4 billion in August, a 13.2 percent increase from the same period past year, according to customs data.

China has responded to the tariffs on $200 billion by saying it will retaliate with tariffs on $60 billion. That's because the devices all use certain Chinese-manufactured electronic components that fall under the tariff list. "The U.S.is moving higher", Lawrence Kudlow, director of the National Economic Council, said on CNBC. Intel Inc., Cisco Systems Inc. and others argued in their filings that the tariffs could hamper USA competitiveness in 5G, an emerging wireless technology the White House has set up as critical to national security.

Rockland employs 240 people, mainly at its manufacturing plant in Bamberg, S.C. Many lawmakers, including from Trump's own Republican party, oppose the president's zeal for tariffs but have limited options for curbing such sanctions.

President Trump has now broached the full monte, threatening to impose tariffs on essentially every product imported from China. As a kind of nuclear option, it could sell off trillions' worth of U.S. Treasuries it holds, although that could hurt China as much as the United States.

The impact could be wide-ranging since the four firms make equipment commonly used by other tech companies, the government, and institutions such as schools and hospitals.

"The first few rounds of tariffs hit supply chains really hard", said Mary Lovely, an economist at Syracuse University.

"There are so many people with so many different interests", he said.

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