Donald Trump claims he has a further $267 billion worth of tariffs ready to impose on Chinese imports, on top of the $200 billion that is already being planned, according to Reuters.
Trump was speaking on Air Force One on September 7, when he suggested that the trade war with China could escalate even further.
The US introduced levies worth $34 billion on Chinese goods on July 6 and began taking 25% on August 23.
The US Trade Representative (USTR) has also been considering the terms on which $200 billion will be set, with the charge on imports from China due to be set anywhere between 10-25%.
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According to Reuters, a White House economic adviser insists that Trump won’t make a decision on the proposed tariffs until all the public comments have been reviewed.
The tariff war caused world trade to fall by 1.3% in August 2018, according to Global Kuewhne + Nagel Indicators’ (gKNi), with China’s year-on-year (YoY) growth falling from 12.2% in July to 7% in August.
Speaking about the possible new tariffs, Trump said: “The $200 billion we are talking about could take place very soon depending on what happens with them.
“And I hate to say this, but behind that is another $267 billion ready to go on short notice if I want. That changes the equation.”