China's US trade surplus hit record high in August

China's US trade surplus hit record high in August

China's US trade surplus hit record high in August

Update: On the $200 billion in tariffs, Trump said they could be soon depending on what happens. Earlier speculation was that those tariffs, proposed in July, would take effect in early October, though trade associations have been gearing up for the announcement to come as early as the end of this week.

"China, right now, is a far bigger problem", Trump said. "And I hate to say this, but behind that is another US$267 billion ready to go on short notice if I want".

"That totally changes the equation", Mr Trump said.

Trump initiated the trade war to punish Beijing for what it says are China's predatory tactics to try to supplant U.S. technological supremacy.

The official Chinese media is asserting that Trump's trade war is aimed at containing China's rise, a perception solidifying Beijing's resolve not to buckle under US demands.

Dell (DVMT), Cisco (CSCO), Juniper Networks (JNPR) and Hewlett Packard (HPE) said the tariffs would increase the costs of their networking equipment, damaging the companies' bottom lines and leading to possible United States job losses.

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White House economic adviser Larry Kudlow just hours before said talks with Beijing were continuing to try to defuse the conflict, and that he was hopeful that a solution could be found.

It has demanded that China better protect American intellectual property, including ending the practice of cyber theft.

It said some of the parts it relies on for product development, including processors and research equipment, would also be hit by the tariffs.

Apple voiced its concerns about these tariffs in a public filing Friday, arguing that tariffs could make a wide range of products the company is selling to USA consumers more expensive. The company said on its website that it spent over $50 billion for goods purchased from USA suppliers a year ago.

While no one predicted a sudden, sharp blow from United States tariffs, China's official export data has been surprisingly resilient so far, with growth exceeding analysts' expectations for five months in a row. However, China's imports from the United States are $200 billion a year less than American imports from China, so it would run out of room to match US sanctions. Fitness tracker maker Fitbit said it would be hit by tariffs, and chipmaker Intel Corp said the levies could slow down the adoption of 5G networks, the next generation of wireless data technology for phones and other devices.

The U.S. already imposes a 25 percent tariff on around $50 billion of Chinese goods, principally technology imports. "(Our) asks have not been satisfied", he said.

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