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White House to Impose Tariffs on $50 Billion of Chinese Goods

30 May 2018

The White House says it will impose a 25 percent tariff on $50 billion of Chinese goods with "industrially significant technology".

The Tuesday announcement is the result of President Donald Trump's March 22 executive order initiated to "protect domestic technology and intellectual property from certain discriminatory and burdensome trade practices by China".

The White House, and many American companies, say that China forces USA firms to turn over technology as part of joint ventures with Chinese companies to gain access to its market. The list of restrictions will be announced by June 30, the White House said.

"We're interested only in economic prosperity and national security", Navarro said, adding that the USA slapping 25% tariffs on $50 billion of Chinese goods is bullish news for American companies and will be a "key part" of USA policy going forward.

The final list of covered imports will be announced by June 15, and tariffs will be imposed on those imports shortly thereafter, it said.

A United States official, who spoke on condition of anonymity, said that under directions sent to U.S. embassies and consulates, Chinese graduate students would be limited to one-year visas if they are studying in certain fields, such as robotics, aviation and high-tech manufacturing, AP reported. He said companies hope Beijing can be persuaded to "level the playing field" by easing curbs on foreign investment and business activity in its state-dominated economy. In March, President Trump signaled his plans to put tariffs on Chinese-made goods.

NBC reported, "As the Trump administration reached a deal Friday to reduce sanctions on the Chinese telecom giant ZTE, Congress has shown rare unity in working to prevent the president from giving in to the foreign-backed company in a way that would compromise national security".

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Michael said Hamas was in a hard position following weekly mass demonstrations at the Israel-Gaza border fence. Israeli cabinet minister Naftali Bennett, however, told Israel's Army Radio no agreement has been reached yet.

An advance team for Ross is scheduled to arrive in Beijing today, Wednesday, and meet with Chinese officials to outline which issues will be discussed on Saturday, according to The Wall Street Journal.

Following trade talks in Washington, U.S. Treasury Secretary Steven Mnuchin announced the world's two biggest economic powers have agreed to back away from imposing tough new tariffs on each other's exports. The US will request that tariffs and taxes between the two countries be reciprocal in nature and value.

China hit back at U.S.

A crackdown of Chinese investment into "industrially significant technology".

China cut tariffs on US automobiles and Trump has pledged support for ZTE, a Chinese company affected negatively by USA sanctions.

Trump has faced a backlash among lawmakers this month after announcing he would soften USA sanctions on the Chinese telecoms equipment maker ZTE, which neared collapse due to an April ban on purchasing crucial USA components. The Trump administration has sought to reduce the U.S. trade deficit with China by increasing the amount of USA exports to the country.

Trump has focused on pressing Beijing to narrow its multibillion-dollar trade surplus with the United States, but Zarit said American companies see other issues as higher priorities.

White House to Impose Tariffs on $50 Billion of Chinese Goods