I’m ready to put tariffs on every import from China, Trump warns

Beijing is targeting sectors, like agriculture, that could harm Trump politically at home, though he said in the CNBC interview that he is seeking to do only what is fair.

But the president also acknowledged he was aware of the traditions that president's typically allow the Fed to operate independently to ensure the smooth functioning of the world's largest economy. "Because we go up and every time you go up they want to raise rates again", Trump said, implying the central bank could hinder economic growth.

"They're picking the wrong customer, I'll tell you that - you know how intense he is on this issue", he said, adding: "Xi seems to think if he waits out the November elections, Trump will be weakened and therefore will lighten the bite".

"We're down a tremendous amount", said Mr Trump, reiterating his view that China's trade surplus with the United States amounts to unfair trading practices.

The White House also attempted to assuage fears of the president pressuring the Fed immediately after Trump's comments were released. Fed officials have penciled in two more hikes this year. The Fed has been carefully and gradually raising rates over the past several years to keep inflation in check and to prevent the economy from overheating.

'I'm not happy about it.

Trump has been threatening to levy tariffs on European vehicle manufacturers in a bid to force more production into the US.

Goods already affected by Trump's tariffs against China include batteries, trains, and ball bearings, but they could extend to more consumer goods if further tariffs are imposed.

WNBA Unveils Uniforms for 2018 All-Star Game
Forward Elena Delle Donne and guard Kristi Toliver were picked to participate in the July 28 showcase in Minneapolis. Toliver, who starred in college at the University of Maryland, is averaging 14.0 points per game this season.

The Fed is now chaired by Trump appointee Jerome Powell, whom Trump described as 'a very good man'.

Most economists believe the current economic climate, with the nation's unemployment at historic lows and inflation at the Fed's 2 percent target, justify recent interest rate rises and a strong US dollar.

After more than six years of record low interest rates that helped the USA economy recover from the 2008 financial crisis, the Fed began to slowly raise rates again in December 2015 and has raised them five times since Trump took office in January 2017.

A Trump-backing farmer in Pennsylvania admits that he's feeling the pinch from the president's trade policies.

"I'm not thrilled", he said in an interview on the television network.

During the 2016 presidential campaign, Trump was highly critical of the Fed and accused its policymakers of keeping rates at ultra-low levels to favor Democrats.

The rate rises, which make borrowing more expensive, are meant to head off uncontrolled price rises as the U.S. economy expands.

The Fed has raised rates five times since Trump took office in January 2017, and has penciled in two more hikes for this year.

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