With President Donald Trump threatening a 10 per cent blanket tariff on all Chinese imports starting February 1, American consumers could soon see higher prices on everyday electronics like phones, TVs,

Exporters this week jostled to load and ship cargo from Shenzhen's Yantian Port, one of the world's largest container ports, before an eight-day Lunar New Year holiday and ahead of a potential wave of U.

Chinese goods are currently subject to a 100% tariff on electric vehicles and 25% tariff on steel and aluminum products. But several items have been exempt from tariffs. One of the biggest exemptions: consumer electronics. But if Trump proceeds with a 10% blanket tariff on Chinese goods that would no longer be the case.

The United States has "very big power" over China due to its ability to impose tariffs, and China does not want this. In an interview with Fox News, Trump noted, however, that he would prefer not to have to use this power.

President Donald Trump admitted tariffs represent a powerful economic tool against China, but he would not use them. In his latest comments, Trump has softened his position on trade restrictions while continuing to threaten China as the world’s second-largest economy.

The United States has "very big power" over China due to the ability to impose tariffs, and China does not want this. Trump noted in an interview with Fox News, however, that he would prefer not to have to use this power.