Trump Threatens New Tariffs on 💲267bn of Chinese Goods.

Donald Trump has said he has a new tranche of tariffs ready to place on virtually all Chinese goods, as Apple warned the trade war will make its products more expensive for American consumers. A package of tariffs was already close to being imposed on $200bn worth of Chinese goods imported to the US, Trump said, while suggesting a further package, worth $267bn, could also be imposed, which would sharply escalate his trade war with China.

Economic tensions between the two countries were heightened further on Saturday when official data showed that China’s trade surplus with the US widened to a record level in August. The surplus, which Trump often invokes to justify his tough line on trade, hit $31.05bn in August, up from $28.09bn in July. Over the first eight months of the year, China’s surplus with the US has risen nearly 15%.

China has threatened to retaliate against tariffs, which could include action against US companies operating there. Trump, who has demanded that Beijing make major changes in economic, trade and technology policy, told reporters onboard Air Force One that he was “being strong on China because I have to be”.