Trump's 'Ready' to Slap Tariffs on All Chinese Imports
*By Alisha Haridasani*
President Trump said on Thursday he’s “ready” to slap tariffs on every Chinese product entering the United States, deepening the trade war between the world's two largest economies.
“I’m ready to go to 500,” the President said in an interview with [CNBC,](https://www.cnbc.com/2018/07/19/trump-says-hes-ready-to-put-tariffs-on-all-505-billion-of-chinese-.html) referring to the $505 billion of Chinese imports. “I’m not doing this for politics, I’m doing this to do the right thing for our country. We have been ripped off by China for a long time.”
In a tweet on Friday morning, after the CNBC interview aired, Trump [said](https://twitter.com/realDonaldTrump/status/1020290163933630464), “The United States should not be penalized because we are doing so well.”
The Trump administration earlier this month levied taxes on $34 billion worth of high-tech Chinese goods to penalize the country for alleged intellectual property theft, prompting Beijing to respond in kind.
In retaliation, the Trump administration has also identified another round of tariffs on $200 billion worth of goods. The second round of taxes could hike prices of many [popular consumer goods](https://www.reuters.com/article/us-usa-trade-apple/apple-watch-fitbit-could-feel-cost-of-us-tariffs-idUSKBN1KA0E2) manufactured in China, including the Apple Watch and the FitBit tracker.
As inflation-weary consumers cut back on dining out, brands like McDonald’s are relying more heavily on celebrity and influencer endorsements to move the needle
Plus, Starbucks reported its first quarter of declining sales and earnings since the pandemic, Biden tries to tackle the national debt and Warren Buffett is set to host the annual meeting of his investment firm Berkshire Hathaway.
