Trump moving ahead with plan to slap tariffs on Chinese goods

Trump moving ahead with plan to slap tariffs on Chinese goods

Trump moving ahead with plan to slap tariffs on Chinese goods

Navarro's comments underscore the frequent shifts in the Trump administration's position on China - which the president has both praised and denigrated since before he took office a year ago - and come shortly before US Commerce Secretary Wilbur Ross departs for Beijing for a third round of high-level talks aimed at defusing the trade dispute.

The U.S.is announcing that it will impose a 25 percent tariff on $50 billion worth of Chinese goods containing "industrially significant technology".

The White House said in a statement on Tuesday that a final list of imported goods to be targeted will be released by June 15, and levies imposed "shortly thereafter". This investigation was done on China regarding the intellectual property practices in China.

"The Trump administration is back in attack mode against China after what had appeared to be a temporary truce in the trade tensions", said Eswar Prasad, former head of the International Monetary Fund's China division.

The Trump administration has sought to reduce the USA trade deficit with China by increasing the amount of U.S. exports to the country.

The statement highlighted the country's industrial policies, such as its "Made in China 2025" plan, which the White House said harms companies in the U.S. and around the world; its average tariff rate, which is almost three times higher than the average United States rate; and that China imposes much higher tariffs on USA exports than the USA imposes on China. According to China this decision announced by the USA contradicts the decisions made between two in a meeting held in Washington.

Mr. Trump has often talked about challenging what he has described as China's unfair trade practices, but his advisers are deeply divided over the best course for doing so.

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U.S. Commerce Secretary Wilbur Ross is set to go to Beijing this week to negotiate on how China might buy more American goods to reduce the huge U.S. trade deficit with Beijing, which previous year totaled $375 billion. The United States plans to impose a 25-percent tariff on a number of Chinese goods.

The overall effect on furniture remains unclear, although opponents and proponents of the tariffs have mentioned furniture in their public comments on the issue. However, the USA has yet to publish a list of target products for the $100 billion, and the White House statement makes no reference to the second potential tranche of duties.

The Commerce Department informed Congress on Friday of a plan to ease penalties on ZTE (ZTCOF), the Chinese phone and telecom equipment maker that was crippled by an export ban issued in April as punishment for what the United States said were violations of its sanctions against North Korea and Iran.

In response, the Chinese Commerce Ministry said the country is prepared for whatever the United States may impose.

Investor Wilbur Ross was brought into the administration as one of President Donald Trump's "killers" - but in recent months, the commerce secretary has been increasingly marginalized, with his agency widely seen in the White House as a mess.

The ban was meant to be punishment for what U.S. officials said were false statements by ZTE over actions it claimed to have taken regarding the illegal sale of goods to Iran and North Korea.

These actions were announced following a report of the Office of the US Trade Representative regarding China " s practices with respect to technology transfer, intellectual property and innovation.

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