Trump moves to crack down on China trade with $60 billion in tariffs on imported products
By David J. Lynch March 22
President Trump took the first steps toward imposing
tariffs on $60 billion in Chinese goods and limiting China’s ability to invest in the U.S. technology industry Thursday, saying the moves were a response to Beijing’s history of forcing U.S. companies to surrender their trade secrets to do business in China.
The president directed U.S. Trade Representative Robert E. Lighthizer to announce within 15 days a proposed list of products to be hit with tariff increases. After a public comment period, the final list, designed to target Chinese products that benefited from improper access to U.S. technology, will be made public.
“We’re doing things for this country that should have been done for many, many years,” the president said before signing a memorandum setting in motion the trade actions.
The president blamed China for the loss of 60,000 factories and 6 million jobs, a number that most economists say blends the impact on U.S. employment of both Chinese competition and automation.
Trump said that unfair Chinese trade practices are responsible for the yawning U.S. trade deficit with China, which has reached a record
$375 billion on his watch.
https://www.washingtonpost.com/business/economy/trump-moves-to-crack-down-on-china-trade-with-50-billion-in-tariffs-on-imported-products/2018/03/22/c09309e8-2de3-11e8-8ad6-fbc50284fce8_story.html?utm_term=.0fb69d1b6679Beautiful!
