United States imposing 25% tariff of Chinese goods, apply investment restrictions in June


It noted that Chinese tariffs on US goods are much higher than corresponding USA tariffs, and said the USA government would "defend America's intellectual property and proprietary technology from theft and other threats" by imposing a 25% tariff on $50 billion in goods made in China that contained "industrially significant technology".

In what appears to be an effort to ratchet up pressure on China to make greater concessions in ongoing trade negotiations, the Trump administration announced today it was moving forward with tariffs and other trade restrictions associated with USA claims of intellectual property theft by Chinese enterprises.

According to the White House, to protect its national security, the U.S. will implement specific investment restrictions and enhanced export controls for Chinese persons and entities related to the acquisition of industrially significant technology.

The final list of covered imports subject to tariffs will be announced by June 15.

The White House said Tuesday the tax will affect goods worth $50 billion and include products related to the Made in China 2025 program, a 2015 initiative promoting the country's information technology, robotics, aerospace, marine, rail, auto, power, agriculture and bio-medical industries.

"We were both surprised by and expecting the statement issued by the White House".

When Trump first directed US Trade Representative Robert Lighthizer to levy tariffs on $50 billion worth of Chinese exports in March, following a months-long investigation into intellectual property theft, the move was hailed as a victory for trade hawks in the Trump administration.

US Commerce Secretary Wilbur Ross is scheduled to travel to China this week for another round of discussions.

"As a White House adviser, Ivanka has represented the United States at multiple diplomatic events despite the potential conflicts her business interests present", CREW stated on its website.

The China tariffs are back on.

When he announced the initial plan to impose tariffs, the president also instructed the Treasury Department to draw up new curbs on investments in the U.S.by Chinese companies.

FILE - A motorcade leaves the U.S. Embassy after U.S. officials had trade talks with Chinese counterparts, in Beijing, China, May 4, 2018.

But Chinese media had noted that the deal with the USA could see some Australian imports sidelined, including beef and wine, which had gained preferential access under Australia's Free Trade Agreement with China.

Ivanka Trump was granted five business trademarks in China earlier in May, just days before her father suddenly scrapped a USA technology ban imposed on Chinese telecom firm ZTE, according to government documents.