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U.S. Tariffs Target as Much as $60 Billion in Chinese Goods
The U.S. has threatened to impose tariffs on as many as 1,300 imported Chinese products worth $60 billion.
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The U.S. has threatened to impose tariffs on as many as 1,300 imported Chinese products worth $60 billion.
The White House justifies the move by pointing to two issues: a $375 billion goods trade deficit with China and rules that force U.S. companies to give up intellectual property for the right to do business in the country.
But the memorandum signed by President Donald Trump includes a 60-day consultation period before punitive action is taken. The process is all but certain to reduce the number of items—many of them high-tech products—which ultimately will be taxed.
The U.S. also plans to pursue claims of unfair Chinese IP practices through the World Trade Organization. The deliberative process will take many months to produce a result.
Trade analysts note that the approach reduces the chance of a trade war by giving China time to moderate its response. “We are in the middle of negotiations,” President Donald Trump says, adding that he continues to consider China “as a friend.”
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