Trump threatens tariffs on all Chinese imports

Stock markets in Europe have fallen sharply after President Trump said he was willing to impose tariffs on all Chinese goods imported to America.

"I'm ready to go to 500", Donald Trump said in an interview with CNBC, stressing that he is ready to tax every Chinese product imported to the United States if it is necessary.

"I'm not doing this for politics, I'm doing this to do the right thing for our country", Trump said.

"Equities sank sharply in the wake of Trump saying is he ready to slap tariffs on all the goods the USA imports from China, which total over $500bn".

That figure references the $505 billion dollars worth of goods imported from China in 2017, according to Census Bureau data. China retaliated on the first wave of tariffs by slapping duties on the same dollar amount of US imports, and Beijing has said it'll fight against any further USA actions.

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So far, the USA has put tariffs on $34 billion of Chinese goods.

Along with pressing Chinese leaders to shrink the deficit, Trump's administration has accused China of engaging in unfair trade practices by forcing American investors to turn over technologies to Chinese firms. According to some analysts, China could take some other steps to tackle the USA trade attack, including cutting U.S. investments, rejecting the country's oil and gas, dumping the U.S. state debt, as well as devaluing the yuan.

"We are being taken advantage of and I don't like it", Trump said in an interview with CNBC.

"I don't want them to be scared, I want them to do well", Mr. Trump said, adding, "I really like President Xi [Jinping]". Axios reports on Friday that "chances of a longer, wider, more damaging trade war with China are rising", with one possible scenario including China goading Trump into a trade war.

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