‘From now on, we expect trading relationships to be fair and to be reciprocal,’ President Donald Trump said in a statement. China has, according…
‘From now on, we expect trading relationships to be fair and to be reciprocal,’ President Donald Trump said in a statement.
China has, according to the White House, jeopardized the American economy by pursuing unfair trade practices, introducing tariff barriers, offering subsidies to Chinese companies; preventing the United States from competing on what the White House refers to as a “level playing field.”
The White House will impose a 25 percent tariff on $50 billion worth of Chinese goods containing “industrially significant technology.” The tariffs will cover goods related to the “Made in China 2025,” program the Trump administration has repeatedly criticized.
“From now on, we expect trading relationships to be fair and to be reciprocal,” President Donald Trump said in a statement.
Apart from the 25 percent tariff, the White House will impose investment restrictions and enhanced export controls. Chinese corporations and individuals will, therefore, be prevented from acquiring American technology.
