China is promising to retaliate if the White House moves ahead with the new tariffs.
Update: On the $200 billion in tariffs, Trump said they could be soon depending on what happens. -China trade spat, trade renegotiations among the U.S., Mexico and Canada, . experts say the Korean government and companies should monitor the changing trade front and continue their outreach efforts to negotiate with their U.S. counterparts to secure Korea's footing. Trump latest tariffs threats, if he follows through, would more than cover the value of all goods the USA buys from China, according to USA government data from previous year.
The Trump administration has already slapped duties on US$50 billion of Chinese exports since July, which spurred immediate in-kind retaliation from Beijing.
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Companies such as Cisco and Hewlett-Packard say tariffs on Chinese networking equipment will ultimately make it more expensive for American consumers to access the Internet.
The Trump administration is poised to impose 25% penalties this week on $200 billion of Chinese goods in an escalation of their fight over US complaints that Beijing steals or pressures companies to hand over technology.
The Trump administration has slapped tariffs on billions of dollars worth of Chinese goods over the past few months, escalating a trade war between the two countries. But 2018 Chinese imports through July were up almost 9 per cent over the same period of 2017, according to US Census Bureau data.
Earlier on Friday, White House economic adviser Larry Kudlow told Bloomberg Television the administration would evaluate public comments before making decisions on the $200 billion tariff list. But David French, top lobbyist for the National Retail Federation, whose members include Amazon.com, BJ's Wholesale Club and Macy's, said almost every consumer good could be affected if Trump follows through on all threatened tariffs. "We want lower (trade) barriers across the board".