Trump’s Chinese Tariffs Target Consumer Electronics, Including Sony and PlayStation

Trump’s Chinese Tariffs Target Consumer Electronics, Including Sony and PlayStation

Patsy Widakuswara reports from the White House.

Mr Trump said that the next round of tariffs could be on goods which are not yet hit by tariffs, such as laptops and Apple iPhones imported from China. Washington and Beijing remain at odds on key issues such as US accusations of intellectual property theft and forced technology transfer, he said.

If no deal is signed, Trump says he's OK with the status quo.

Trump said on Monday that he will likely push forward with plans to increase tariffs on US$200 billion of Chinese goods.

The news sent shares lower in London and NY on Tuesday, after Trump told the Wall Street Journal it was "highly unlikely" that he would heed a call by Beijing to refrain from increasing the tariffs from the start of next year.

"The only deal that would really be acceptable to me, other than obviously we have to do something on the theft of intellectual property rights, the only deal would be China has to open up their country to competition from the United States, " he said. "They did whatever they wanted, and people let them do that".

Trump campaigned on reducing the trade imbalance with China, which totaled $335.4 billion a year ago.

The first major casualty of the China-US trade war is getting "back into business, fast" according to the president of the United States.

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Kudlow characterizes progress with China on trade as moving "very slowly".

Official Chinese statistics are often inflated, but even those show a slowing of the economy. Since then, communications have picked up between the two sides, said Kudlow.

The Trump administration reached an agreement with Canada and Mexico in October to revamp the North American Free Trade Agreement (NAFTA) following fraught negotiations.

'We can buy from Japan and South Korea or develop our own. "That includes women's economic empowerment".

"They have to open up China to the United States".

One notable leader Trump is not planning to meet with is Saudi Arabia's Crown Prince Mohammed bin Salman. He declined to say what other US officials will join Trump in the session.

Press Secretary Sarah Huckabee Sanders said Trump's schedule for the summit is "is pretty packed", but she "wouldn't say that we've ruled out any interaction".

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