Ripples Advisory, Donald Trump is said to plan to impose $50 billion in China tariffs
Donald Trump is going to clamp $50 billion tariffs against China over intellectual-property violations, targeting more than 100 different types of Chinese goods
President Donald Trump is set to announce about $50 billion of tariffs against China over intellectual-property violations on Thursday, according a person familiar with the matter.
The president is considering targeting more than 100 different types of Chinese goods, according to the person, who spoke on the condition of anonymity. The value of the tariffs was based on US estimates of economic damage caused by intellectual-property theft by China, the person said.
“Tomorrow the president will announce the actions he has decided to take based on USTR’s 301 investigation into China’s state-led, market-distorting efforts to force, pressure, and steal US technologies and intellectual property,” White House official Raj Shah said in an emailed statement on Wednesday.
It will be Trump’s first trade action directly aimed at China, which he has blamed for the hollowing out of the American manufacturing sector and the loss of US jobs. The decision comes as policy makers including IMF managing director Christine Lagarde warn of a global trade conflict that could undermine the broadest world recovery in years.
Trump instructed Trade Representative Robert Lighthizer last year to probe allegations that China violates US intellectual property. After seven months of investigation, US officials found strong evidence that China uses foreign-ownership restrictions to compel US companies to transfer technology to Chinese firms, said an official with the US Trade Representative’s office who spoke to reporters Wednesday on condition of anonymity.
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