>> It will be a lot of money coming into the coffers of the United States of America.>> The Trump administration upping the tariff fight with China, announcing Monday it plans to slap tariffs on $200 billion worth of Chinese made goods. A move that will drag the consumer electronics sector into the brawl.
Trump taking the steps to turn the screws on one of America's biggest trading partners, hoping more pain will bring the Chinese back to the bargaining table. Trump making good on a threat earlier in the day on Twitter, quote, if countries will not make fair deals with us, they will be Tariffed!
White House economic advisor Larry Kudlow offered China an olive branch.>> We are ready to negotiate and talk with China anytime if they are ready for serious and substantive negotiations towards free trade to reduce tariffs and non-tariff barriers.>> The Chinese say they are willing to talk, but find Trump's tariff threats nothing short of a bullying tactic and vowed to retaliate.
> And Beijing isn't backing down. Warning in an editorial that is looking for a counter attack and threatened to quote, keep increasing the pain.
The threat knocking down tech stocks like Apple and chip makers Intel and Micron since gadget makers rely heavily on Chinese production to keep prices down.