Donald Trump escalated economic global tensions on Friday, lashing out a range of targets that included the European Union, the Federal Reserve and China, indicating that he is prepared to raise tariffs on Chinese imports from $34bn to cover the entire $505bn of Chinese imports.
"As usual, not a level playing field", he continued.
A top Federal Reserve official, meanwhile, warned the trade war could hurt the USA economy. "He's been saying since the '80s that trade deals are bad and we should have more tariffs, and that's what we're getting". "Debt coming due & we are raising rates - Really?"
The dollar dropped against the euro as comments by U.S. President Donald Trump risked ratcheting up trade war tensions, while stocks diverged.
The US imported $505 billion worth of goods from China in 2017, according to Census Bureau data.
'I'm ready to go to 500, ' Trump said.
On Friday morning, Trump for a second day also criticized the Federal Reserve, breaking with a long-standing tradition at the White House of avoiding any influence, real or perceived, on the independence of the US central bank.More news: Concern in White House over intelligence chief's Russian summit surprise
Beijing is targeting sectors, like agriculture, that could harm Trump politically at home, though he said in the CNBC interview that he is seeking to do only what is fair.
Presidents have historically avoided criticizing the Fed, which is created to be independent from political interference.
Mr Trump's comments will make life hard for both the Treasury and the Fed, said Tony Fratto, former White House deputy press secretary under George W Bush and founder of Hamilton Place Strategies in Washington.
Despite this, Trump said that the Fed should keep rates low so the US economy could make up lost ground to China.
It's not that unusual for politicians to blame the Fed when things go wrong with the economy.
"I really only see this as a short-term outcome", said Issa.
"The escalating trade war, if it goes badly, could be a risk for the United States economy", Mr Bullard said, adding he understands the policy's objective.More news: Sens. Jeff Flake & Chris Coons Russia Resolution Blocked
Those comments, plus Trump's criticism of Federal Reserve interest rate hikes, had sent the dollar tumbling on Thursday.
Trump criticized the US central bank in comments aired Thursday, saying its course of interest rate increases counteracted his efforts at growing the economy.
The harsh comments took fresh aim at pillars of the global economic system and compounded Trump's break with long-established norms by again openly rebuking the Federal Reserve.
The central bank's job is to keep prices stable, including raising interest rates to prevent the economy from overheating and inflation from rising.
His tweet came a day after he told CNBC that he was "not thrilled" the Federal Reserve was raising borrowing costs as the economy improved. "I said, "How did this ever happen?' ...one of the great people of China said, 'There was never anybody to talk to in the United States". I am not happy about it. I put a very good man in the Fed.
During the 2016 campaign, Trump said she should be "ashamed of herself" for creating a "false stock market" with low rates.
The White House on Thursday attempted to ensure markets that the Fed maintains its independence after the CNBC interview was aired.More news: Man arrested after knife attack on German bus