President Trump will hit China with at least $50 billion in tariffs and penalties for the theft of trade secrets that costs the U.S. billions
https://www.nytimes.com/2018/03/21/us/politics/trump-china-tariff-trade.html
President Trump on Thursday plans to announce at least $50 billion worth of annual tariffs and other penalties on China for its theft of technology and trade secrets, which administration officials say has robbed American companies of billions of dollars in revenue and killed thousands of jobs.
The measures would mark Mr. Trump’s most aggressive move yet against a fast-rising economic rival that he has accused of preying on the United States.
The measures will be targeted at imported Chinese goods in as many as 100 categories — hitting everything from shoes and clothing to consumer electronics — and will impose restrictions on Chinese investments in the United States, people briefed on the measures said.
Mr. Trump will instruct the Treasury Department to pursue restrictions on certain types of Chinese investments to counter China’s ambitious industrial policy, which aims to dominate cutting-edge sectors like artificial intelligence and mobile technology, officials said.
For Mr. Trump, the steps fulfill a frequent campaign pledge to crack down on China, which he has characterized as an “economic enemy” that has “taken advantage of us like nobody in history.” But the actions will only ratchet up tensions with the Chinese government at a moment when Mr. Trump needs its support for his campaign to curb North Korea’s nuclear program.
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https://www.nytimes.com/2018/03/21/us/politics/trump-china-tariff-trade.html
President Trump on Thursday plans to announce at least $50 billion worth of annual tariffs and other penalties on China for its theft of technology and trade secrets, which administration officials say has robbed American companies of billions of dollars in revenue and killed thousands of jobs.
The measures would mark Mr. Trump’s most aggressive move yet against a fast-rising economic rival that he has accused of preying on the United States.
The measures will be targeted at imported Chinese goods in as many as 100 categories — hitting everything from shoes and clothing to consumer electronics — and will impose restrictions on Chinese investments in the United States, people briefed on the measures said.
Mr. Trump will instruct the Treasury Department to pursue restrictions on certain types of Chinese investments to counter China’s ambitious industrial policy, which aims to dominate cutting-edge sectors like artificial intelligence and mobile technology, officials said.
For Mr. Trump, the steps fulfill a frequent campaign pledge to crack down on China, which he has characterized as an “economic enemy” that has “taken advantage of us like nobody in history.” But the actions will only ratchet up tensions with the Chinese government at a moment when Mr. Trump needs its support for his campaign to curb North Korea’s nuclear program.
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