Trump Set To Impose Huge Tariffs On China On Friday


The Trump administration is preparing to impose $60 million in tariffs on Chinese products this week; the ostensible reason is China has been stealing intellectual property from American businesses.

On Monday, The Washington Post reported that four senior administration officials confirmed that the tariffs will be announced on Friday. On Tuesday, Bloomberg added that the tariffs will be implemented on products as disparate as consumer electronics and clothing. Trump has contended that the products to be targeted were developed by stealing trade secrets from U.S. companies or taken as a prerequisite for access to China’s massive market.

U.S. Trade Representative Robert Lighthizer is heading an investigation into China’s treatment of intellectual property as well as China’s policies that may force American companies to reveal their technological know-how in order to trade with China. Bloomberg added, “Lighthizer has been probing China’s IP practices under section 301 of the Trade Act of 1974. The law allows Lighthizer, at the president’s discretion, to take broad steps, including tariffs, to correct against any harm against U.S. businesses.” – READ MORE

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