Trump says he's "ready to go" with $ 500 billion in tariffs on all imports into China

President Donald Trump said he was "ready to leave" with tariffs of $ 500 billion on Chinese imports, claiming that the United States had benefited for too long

" I'm not doing this for politics, doing this to do the right thing for our country, "Trump said in a CNBC interview broadcast on Friday," We are enjoying it and I do not like it. "

The $ 500 billion figure concerns the value of Chinese goods imported to the United States last year. "The S & P stock index futures fell with the Stoxx Europe 600 template after Trump's comments were released.

Threat threatens to put more pressure on a trade dispute between the two largest economies in the world China accused US officials of making false accusations Thursday as it fought back President Xi Jinping blocks talks with the United States Earlier, White House Economic Adviser Larry Kudlow said that Xi had no intention of with the Trump administration.

Trump earlier this month imposed tariffs of 25% on $ 34 billion worth of Chinese goods, with $ 16 billion to follow soon. The administration also issued a 10% duty list on an additional $ 200 billion worth of Chinese products, which could come into effect as early as next month. China has responded to the first wave of tariffs by charging duties on the same amount of US imports, and Beijing said it would fight against any other US action.

China imports much less US US goods last year, so it's not as much to take advantage of tariffs, but it could use other measures to hit the US trade as strengthening regulatory oversight.

Can Trump win a trade war in China? Trump cleared the tariffs after an investigation that he ordered by the US Trade Representative's office revealed that China was violating IP rules and forcing US companies operating in China to hand over their technology secrets to have access to the market. Chinese Ministry of Commerce spokesman Gao Feng called the accusations "unfounded" and said US trade sanctions violated the rules of the World Trade Organization [1965-19004]. Mnuchin said the United States would be willing to return to the table only if China agreed to deepen the structural changes in its economy.

The International Monetary Fund warned earlier this week that escalating trade tensions threatened to provoke a global recovery. If threatened trade barriers materialize, global output could fall by about 0.5% below its expected level by 2020, said IMF chief economist, Maurice Obstfeld. Obstfeld said that the US economy would be "particularly vulnerable" given that it would be the object of retaliation in a titled conflict,

The Trump administration also angered its major allies by imposing import tariffs for steel and aluminum. this year. On Thursday, automakers and vehicle-manufacturing countries like Mexico criticized the study of the administration over whether auto imports pose a risk to national security, which could lead to customs fees.

19659015] Greater risk to the world economy than tariffs that the Trump administration considers on Chinese imports.

( Updates with details of the trade negotiations blocked in the seventh paragraph. )