'Ready to Go' With Tariffs on $500B of Chinese Imports

"It's proof, if it were needed, that the president is prepared to go all the way in the trade war to exact concessions from China, which simply can not match the United States firepower".

US President Donald Trump Friday said he's willing to hit all Chinese goods imported to the United States with tariffs if necessary.

The list named more than 6,000 items including food products, minerals and consumer goods such as handbags, to be subject to a 10% tariff.

"We're down a tremendous amount", Mr. Trump told CNBC in an interview broadcast Friday, referring to USA trade with China.

When asked about the stock market possibly falling if the United States imposes duties on such a large amount of goods, Trump said: "If it does, it does".

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

The administration has also accused China of engaging in unfair trade practices by forcing American investors to turn over key technologies to Chinese firms.

Many companies in the U.S. are opposed to the administration's use of tariffs against China, saying they risk hurting business and the economy without being likely to change behaviour.

In Europe, the FTSE 100 dropped half a per cent in minutes after the comments and Germany's DAX suffered a similar fall.

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