Author Topic: Trade War looms as U.S. hits China with tariffs  (Read 433 times)

Ayoshi

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Trade War looms as U.S. hits China with tariffs
« on: March 23, 2018, 12:39:29 PM »
Trump hits China with tariffs, heightening concerns of global trade war | CNN
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Washington (CNN)President Donald Trump launched the next salvo in his widening war on Chinese trade abuses, this time taking aim at China's unfair seizure of US intellectual property.

Trump on Thursday directed the US trade representative to level tariffs on about $50 billion worth of Chinese imports following a seven-month investigation into the intellectual property theft, which has been a longstanding point of contention in US-China trade relations. In addition to the tariffs, the US also plans to impose new investment restrictions, take action against China at the World Trade Organization and the Treasury Department also will propose additional measures.

Trump signaled the tariffs would affect "about $60 billion" of Chinese imports, but administration officials said the figure would be closer to $50 billion.

"We have a tremendous intellectual property theft problem," Trump said. "It's going to make us a much stronger, much richer nation."

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China hits back at Donald Trump's tariffs as trade war finally arrives | The Economic Times
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China said it doesnít fear a trade war with the US and announced plans for reciprocal tariffs on $3 billion of imports from the US in the first response to President Donald Trumpís ordering of levies on Chinese metal exports.

China plans tariffs on imports of US pork imports, recycled aluminum, steel pipes, fruit and wine, according to a Commerce Ministry statement on Friday. China will also pursue legal action against the US at the World Trade Organization in response to the US planned tariffs on steel and aluminum imports, the statement said, and called for dialog to resolve the dispute.
« Last Edit: March 23, 2018, 12:46:16 PM by Ayoshi »