Published: Tue, May 29, 2018
World Media | By Cesar Oliver

United States announces 25 per cent new tariffs on Chinese tech goods

United States announces 25 per cent new tariffs on Chinese tech goods

The final list of items subject to the new tariffs will be released on June 15, with formal imposition of these duties occurring a few days later.

Trump ordered the tariffs in March in response to what he called "tremendous intellectual property theft" by China, identified in a Section 301 trade investigation launched last summer.

The United States intends to impose restrictions on some of China's investments and customs duties of 25% on certain categories of its goods supplied to the USA market, the White House press service said on Tuesday.

With Commerce Secretary Wilbur Ross heading to China this weekend for the next round of negotiations, there is some doubt about the administration's ultimate objective: Is it trying to change the nature of China's economic system, or does it simply want to improve the trade balance between the two countries?

Proposed investment restrictions will be announced by June 30 and also take effect at a later date.

The White House also says the U.S. is planning new investment restrictions and export controls.

The US will also continue to pursue litigation at the World Trade Organisation for violations of the Agreement on Trade-Related Aspects of Intellectual Property Rights based on China's discriminatory practices for licensing intellectual property, the statement said.

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.

"The United States will request that China remove all of its many trade barriers", the White House said, "including non-monetary trade barriers, which make it both hard and unfair to do business there".

Trump has bemoaned the massive United States trade deficit with China as evidence that Beijing has been complicit in abusive trading practices.

If the two sides fail to reach an agreement and the United States moves forward with tariffs, Chinese officials have said they plan to retaliate with tariffs of their own on USA exports such as soybeans.

Trump, while demanding China to reduce the USD 375 billion by USD 100 billion retaliated with USD 50 billion tariffs on Chinese products.

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