United States defends latest tariffs on China products

Ivanka Trump

Ivanka Trump

On Tuesday, the White House said it would have a final list of $50 billion in imports that would be subject to 25 percent tariffs by June 15, and two weeks later would announce investment restrictions on Chinese acquisitions of USA technology.

President Donald Trump is moving ahead with steps to protect US intellectual property by punishing China with broad investment restrictions, litigation at the World Trade Organization and hefty tariffs on $50 billion worth of Chinese goods.

According to an official statement, the final hit-list of Chinese imports - many of which are expected to be linked to Chinese high-technology manufacturing - will be released on June 15, shortly followed by levies of 25%.

The US will impose a hefty 25 per cent tariff on the Dollars 50 billion worth of Chinese goods containing "industrially significant" technology, the White House said today, days after the two sides reached an agreement and vowed not to launch a trade war against each other.

Chinese President Xi Jinping at the Great Hall of the People in Beijing today. After Trump administration officials traveled to China at the start of the month, a Chinese delegation came to Washington two weeks later.

Trump has also threatened to impose tariffs on an additional $100 billion in Chinese goods if Beijing retaliates.

The US government has threatened to impose tariffs on $50bn of imports from China unless Beijing addresses the issue of the theft of American intellectual property, once again raising the prospect of a trade war. "We [should] hold innovative development tightly in our own hands", he said.

Gini Wijnaldum shows he gets Liverpool with approach to Champions League final
If you can not watch the final, we have quite the alternative for you. "I know exactly how I have to play", insisted Marcelo on Friday.

China's Commerce ministry said the U-S announcement was surprising, and urged the U-S to act in line with their previous agreement. "This dynamic makes it likely that both tariffs and investment restrictions will go into effect".

And Trump had agreed to a deal to lift an export ban on ZTE Corp, a large Chinese manufacturer that relies on importing parts from the U.S. It was another sign that trade tensions were easing their way toward a favorable resolution, calming market fears of a Pyrrhic escalation. "We lost the trade war long ago".

The US will also continue to pursue litigation at the World Trade Organisation for violations of the Agreement on Trade-Related Aspects of Intellectual Property Rights based on China's discriminatory practices for licensing intellectual property, the statement said.

That deal was separate from the United States investigation into China's alleged theft of intellectual property.

FILE - In this May 4, 2018, file photo, U.S. Commerce Secretary Wilbur Ross leaves his hotel in Beijing.

Mr. Trump has often talked about challenging what he has described as China's unfair trade practices, but his advisers are deeply divided over the best course for doing so. "Those exports are precisely the exports in the China 2025 industries.", said Peter Navarro the White House Director of Trade and Industrial Policy.

The White House also pledged to continue a WTO case it started in March on accusations that China's intellectual property practices violate global trade law.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.