The US imported $500 billion worth of goods from China in 2017, according to Census Bureau data.
"I'm not doing this for politics — I'm doing this to do the right thing for our country," he added. "We have been ripped off by China for a long time."
Trump's comments come amid a multitude of trade threats between major economies around the globe and after his initial tariffs on Chinese goods sparked a major conflict. The Trump administration has already begun placing tariffs on $50 billion worth of Chinese goods and threatened to put levies on $200 billion more of imports.
The threat to place tariffs on all Chinese goods sent to the US would effectively end the tit-for-tat trade battle between the two nations, as Chinese imports from the US are a comparatively small $129.9 billion.
US tariffs imposed on many countries faced its own boat manufacturing industry with billions lost and is putting a lot of jobs in danger
US tariffs imposed on many countries have side effect on its own boat manufacturing industry that employs more than 650000 people in the country and is putting a lot of those jobs in danger. Boat manufacturers in US are facing a double whammy foreign tariffs on US made boats.
Even while threatening China, Trump tried to reassure the Chinese government that he was not looking to "scare" the country.
Even while threatening China, Trump tried to reassure the Chinese government that he was not looking to "scare" the country.
Meanwhile, Foreign Ministry Spokesperson Hua Chunying's said in Regular Press Conference on July 19, China's position and attitude on the trade issue with the US is consistent and clear.
She said, from the very beginning, we made clear our firm position of not wanting to fight but never afraid of fighting. The US should keep in mind that today is the 21st century with a high level of economic globalization, and it is China they are dealing with. Those in the US should drag themselves out of their quixotic fantasy and stop acting as if they were the Don Quixote of the 17th century.
