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

In a taped interview with the business channel CNBC, Trump said "I'm willing to go to 500", referring roughly to the $505.5 billion worth of goods imported a year ago from China.

"I'm ready to go 500", the Republican leader told the USA network CNBC, referring to the US$505.5 billion in Chinese imports accepted into the United States in 2017. "I'm doing this to do this right thing for our country".

American stock futures took a dive on Friday following the president's comments.

The threat is likely to put further strain on a trade dispute between the world's two biggest economies.

"I don't want them to be scared, I want them to do well", Mr. Trump said, adding, "I really like President Xi [Jinping]".

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The US and China have already imposed tit-for-tat tariffs of $34bn on each other's goods.

Last week, Washington listed $200bn (£150bn) worth of additional Chinese products it intends to place tariffs on as soon as September. China retaliated on the first wave of tariffs by slapping duties on the same dollar amount of USA imports, and Beijing has said it'll fight against any further US actions.

Washington imposed tariffs on US$34 billion of Chinese products on July 6 and last week threatened to slap 10 per cent duties on another US$200 billion worth of the goods. In return, China levied taxes on the same value of US products.

The International Monetary Fund warned earlier this week that escalating trade tensions are threatening to derail a global upswing.

The US also wants China to stop practices that allegedly encourage transfer of intellectual property - design and product ideas - to Chinese companies, such as requirements that foreign firms share ownership with local partners to access the Chinese market.

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