Trump signs tariffs memorandum against China despite strong warnings

Trump and Chinese flag in two directions on road sign

In a move to punish Beijing for stealing American technology, the White House set in motion tariffs on up to $60 billion in Chinese imports and restrictions on new Chinese investment in the U.S.

Jacob Parker, Beijing-based vice president of China operations at the U.S.

"Most Chinese corporates seems to be quite resilient against a potential trade war given the high share of domestic revenue", said Alicia Garcia Herrero, chief economist for Asia Pacific at Natixis. "China is strongly disappointed and firmly opposes such an action". Sometimes he sounded like his fellow New Yorker Trump as he accused America's top trading partner of taking advantage of USA companies. They will directly harm the interests of US consumers, companies, and financial markets. "They will directly harm the interests of USA consumers, companies, and financial markets", the embassy said.

While Trump suggested during the announcement that we could expect tariffs in the ballpark of US$60 billion, he also indicated that the United States was still in talks with China. The value of USA wine exports to China alone increased 450 percent in the past decade, the industry group said. Trump put the figure at $60 billion, causing some confusion over the actual extent of the sanctions.

The memorandum is based on a so-called Section 301 investigation into alleged Chinese intellectual property and technology transfer practices, launched by the Trump administration in August 2017.

Zhang Xiangchen said China was considering a WTO complaint against the package of tariffs that President Donald Trump was expected to announce later on Thursday. He signed the section 301 statute when it comes to trade law and policy for the United States. "They will strategically go after important industries, important companies, important trade groups so that their representatives in Washington raise hell". These unilateral moves have prompted strong opposition and warnings from business groups around the world.

On Wednesday, the World Trade Organization ruled that Washington had not fully complied with a 2014 ruling against its anti-subsidy tariffs on various Chinese products ranging from solar panels to wind towers, giving Beijing a partial victory over the United States in the case.

Voice of China objectives are to "promote the party's theories, principles and policies", "coordinate and organize major propaganda coverage", "strengthen the ability to shape public opinion", "improve its global communication capabilities", and "tell the China story well", while possibly challenging the presence of foreign government-funded services like Voice of America that covers issues like human rights.

After President Donald Trump announced plans to impose tariffs on products including Chinese steel, Beijing responded Friday with a threat to slap an equal 25 percent charge on US products such as pork, and a 15 percent tariff on such things as wine, apples, ethanol and stainless-steel pipe.

The Chinese Embassy said Beijing had tried to address Trump's concerns about the US trade deficit with China.

"Tariffs of $30 billion a year would wipe out over a third of the savings American families received from the doubling of the standard deduction in tax reform".

"American pistachios will become even more expensive".

He told a United Nations briefing: "We are monitoring the situation which at this moment is still very fluid".

China and the United States clashed on Friday at the U.N. Human Rights Council, where the USA delegation rejected a resolution brought by Beijing that it said sought to glorify Xi Jinping's "win-win" approach. China has announced measures on $3 billion worth of US goods. The benchmark S&P 500 Index slumped the most since early February and the Dow Jones Industrial Average dropped more than 700 points.



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