President Trump warned Beijing officials Thursday his willingness to drastically increase the amount of tariffs placed on Chinese goods, saying he was “ready to go to $500 billion” to protect American industries.
The President was speaking with CNBC when he was asked if there was any limit on his potential “trade war” with China, saying “We’re down $500 billion… I’m not talking about pennies.”
“We’re down $500, some people say $375, billion,” said Trump. “I’m not talking about million. I’m not talking about pennies. We’re down $375 billion, but other estimates could say $507 billion. It doesn’t matter, so it’s in between there or it’s there. We’re down a tremendous amount.”
“I’m ready to go to $500 [billion],” Trump added. “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, and I told that to President Xi.”