$267 billion in tariffs

Trump threatens China with tariffs on $267 billion in goods

By MEGAN CASSELLA

President Donald Trump on Friday threatened to hit Beijing with tariffs on $267 billion in goods, a move that would expand the growing trade war to cover virtually everything the United States currently imports from China.

Speaking to reporters on Air Force One, Trump said his administration has the latest round of tariffs ready and that he's prepared to impose them "on short notice.”

Those penalties, if imposed, would come on top of tariffs the administration has already implemented on roughly $53 billion in Chinese imports and on $200 billion that are expected in the coming days.

“The $200 billion we’re talking about could take place very soon, depending on what happens with them,” Trump said, indicating he might be open to some sort of a negotiated solution if Beijing were willing to make concessions. “To a certain extent, it’s going to be up to China.”

Then he added: “I hate to say that, but behind that, there’s another $267 billion ready to go on short notice if I want. That totally changes the equation.”

The Trump administration could impose tariffs as high as 25 percent on the $200 billion list of goods as soon as Friday. Some industry sources, however, have said they expect officials will likely wait a few days or weeks as they sift through thousands of public comments that were submitted until the comment period ended Thursday at midnight.

Imposing tariffs on an additional $267 billion in goods from China — on top of the roughly $253 billion that had already been announced — would mean virtually all current imports from China would be caught in the crossfire, including consumer goods like cellphones and televisions.

Beijing has so far responded in kind with retaliatory tariffs on an equivalent $53 billion in U.S. exports to China. The U.S. exported about $130 billion to China last year.