Monday 15 October 2018

Donald Trump 'willing to hit all goods imported from China with tariffs'

US President Donald Trump and Chinese President Xi Jinping – Chinese state spending has increased in June
US President Donald Trump and Chinese President Xi Jinping – Chinese state spending has increased in June
Independent.ie Business Desk

US president Donald Trump has said he is willing to hit all goods imported from China with tariffs, sending US markets sliding before the opening bell.

In a recorded interview with the business channel CNBC aired early on Friday, Mr Trump said: "I'm willing to go to 500," referring roughly to the $505.5bn in goods imported last year from China.

The administration to date has slapped tariffs on $34bn of Chinese goods in a trade dispute over what it calls the nation's predatory practices.

Read more: EU readies list of new imports to hit if Trump goes after cars

Dow futures, which had already been pointing modestly lower, are now indicating triple-digit losses.

The yuan dipped to a 12-month low of 6.8 to the dollar, off by 7.6pc since mid-February.

More to follow...

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