Another $267B China tariffs ready to go after $200 already announced

Cisco Systems Inc. Hewlett Packard Enterprise Co. and other technology companies sent a letter to US Trade Representative Robert Lighthiser urging the administration to avoid imposing more tariffs

The Ministry of Finance said it will raise export rebate rates for 397 goods, ranging from lubricants to children's books, meaning that firms shipping such products overseas will pay less value-added tax. "That totally changes the equation".

United States stocks slipped after Trump's comments, with the S&P 500 off 0.2%, while China's off-shore trade yuan currency fell against the dollar.

Apple's stock closed down 0.8% in Friday's session.

Trump said Friday that tariffs on China worth $200 billion would "will take place very soon depending on what happens".

There's no final decision on that round of tariffs as the U.S. Trade Representative's office continues to "run their process", White House Deputy Press Secretary Lindsay Walters said on Friday.

It's not clear why the president cited the specific figure he used.

There was no immediate reaction to Trump's comments from the Chinese government, and the threat of more tariffs had not been reported by mainstream state-owned Chinese media as of Saturday evening.

Cell phones are the biggest USA import from China, and so far they've been spared. If that pace continued for the remainder of this year, Chinese imports would top $548 billion - leaving Trump a bit short of complete coverage of Chinese goods.

The administration could decide to begin taxing the imports equal to almost 40pc of all the goods China sold the United States past year after a public comment period ends Thursday. Many products purchased by consumers, such as refrigerators, spark plugs and furniture, are among the potential targets. These US goods include soybeans and beef a direct shot at supporters of President Donald Trump in the US farm belt.

More news: President Kenyatta arrives in Beijing to attend China-Africa Summit

Many American companies that rely on targeted Chinese imports are bracing for the next round of tariffs to hit, with some wondering whether they can absorb the higher costs or instead will need to pass them along to their customers - or find alternatives suppliers outside China.

"The end game in the U.S".

But so far China had not met the Trump administration's requests.

The president, speaking to reporters aboard Air Force Once, said he's in the middle of reshaping America's trade policy on a number of fronts, from Canada and Mexico nearby, to China, South Korea and Japan overseas. The Shanghai market is down roughly 23 percent in dollar terms so far this year while the Dow has risen almost 5 percent.

China is planning two choreographed celebrations of free trade - a major import fair in November and the 40th anniversary in late December of its move toward market reforms. "We're the hottest place in the world".

The country's trade surplus with the U.S.

It also said that every Apple product "contains parts or materials from the United States and is made with equipment from US-based suppliers".

But Kudlow said the US goals are clear.

Levying duties on all Chinese purchases would hit "every aspect of our American lifestyle - so the clothes that we put on our back, the food that we eat, the cars that we drive, theshoes that we wear", Hun Quach, vice president of worldwide trade for the Retail Industry Leaders Association, said by phone. "These things are not hard". An intensified trade war would likely hurt the USA more than China, according to S&P Global Ratings. Bloomberg identified these items by comparing the products on the Value-Added Tax list to items on the lists of goods hit by higher levies. "That may be about to change", wrote S&P economist Satyam Panday.

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