After recently setting new tariffs on the import of aluminum and steel, US President Donald Trump is preparing new ones, but this time on USD 60 billion worth of Chinese imports, Reuters reported, citing sources close to the matter. The tariffs will be targeted at up to 100 products, with special aim taken at technology, telecom and intellectual property. The White House declined to comment on the size or timing of any move.
The White House is looking to reverse what it sees as an unfair trend, whereby US companies had to give up technology secrets in exchange for being allowed to operate in China. Economic advisers from the US and China recently met up in Washington to discuss how the USD 375 billion trade surplus, in favour of China, could be reduced. Speaking to reporters in the Capitol, US House Ways and Means Committee chairman Kevin Brady stressed that Trump was serious about addressing the issue of intellectual property theft.
