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The Trump administration on Tuesday escalated its aggressive actions on trade by proposing 25% tariffs on $50bn in Chinese imports to protest Beijing's policies that require foreign companies to hand over their technology. The Office of the US Trade Representative issued a list targeting 1 300 Chinese products, including industrial robots and telecommunications equipment. The suggested tariffs wouldn't take effect right away: A public comment period will last until May 11, and a hearing on the tariffs is set for May 15. Companies and consumers will have the opportunity to lobby to have some products taken off the list or have others added. The latest US move risks heightening trade tensions with China, which on Monday had slapped taxes on $3bn in US products in response to earlier US tariffs on steel and aluminum imports. "China's going to be compelled to lash back," warned Philip Levy, a senior fellow at the Chicago Council on Global Affairs and an economic adviser to President George W. Bush. Indeed, China immediately threatened to retaliate against the new US tariffs, which target the high-tech industries that Beijing has been nurturing, from advanced manufacturing and aerospace to information technology and robotics....Read More




News24 l Wednesday April 4, 2018
US proposes tariffs on $50bn in Chinese imports