In response to China’s unwillingness to grant fair access to its markets for U.S. goods and forced turnover of American technology, President Donald Trump ordered the United States Trade Representative (USTR) to identify additional Chinese imports that will have a duty placed on them.
“China has determined that it will raise tariffs on $50 billion worth of United States exports. China apparently has no intention of changing its unfair practices related to the acquisition of American intellectual property and technology, ” the president said in a statement. “Therefore, today, I directed the United States Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent.”
Trump had placed $50 billion worth of Chinese goods under Tariff last week in hopes of bringing the Asian trading giant to the negotiating table. But, instead of negotiating, they retaliated.
“On Friday, I announced plans for tariffs on $50 billion worth of imports from China,” he said. “These tariffs are being imposed to encourage China to change the unfair practices identified in the Section 301 action with respect to technology and innovation.”
China responded in-kind with tariffs on $50 billion in U.S. goods.
Trump has already signalled to China what will happen if they continue retaliating instead of remedying the unfair trade situation they have enjoyed for decades.
“If China increases its tariffs yet again, we will meet that action by pursuing additional tariffs on another $200 billion of goods,” the president warned. “The trade relationship between the United States and China must be much more equitable.”
“The United States will no longer be taken advantage of on trade by China and other countries in the world,” he added.