Trump announces new tariffs on Chinese technology

Trump announces new tariffs on Chinese technology

The government of President Donald Trump reiterated his threat to impose 25% tariffs on 50,000 million dollars of Chinese merchandise containing “industrially important technology” in retaliation for what it considers unfair trade practices on the part of the Asian country. The government also plans to restrict Chinese investment in the United States and limit US exports of state-of-the-art products to China, the White House said on Tuesday. The announcement intensifies the risky commercial risk confrontation between the two largest economies in the world. Secretary of Commerce Wilbur Ross is scheduled to travel to Beijing on Saturday to hold talks.

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Made in China 2025 program

The White House said the tariff will be applied to state-of-the-art technologies, including the one that China has said it wants to dominate part of its “Made in China 2025” program. Under that program, Beijing aims to take a dominant place in developing technologies in areas such as artificial intelligence, robotics and electric cars. The announcement of the complete list of imports that will be subject to the tariff will be made on June 15, informed the US presidency, and tariffs will be imposed “soon after that.”

The list will also be based on a previous compilation of 1,300 goods published in April that will be reduced according to public comments received by the government. Analysts say that retaking the threat of tariffs can interfere in the talks that Ross will have with China this weekend. Originally, the trip was intended to define the details of China’s vague promise on May 19 to increase its purchases of agricultural products and natural gas. Trump has said that the huge trade deficit of the United States with the Asian country (of 337,000 dollars last year) is evidence that Beijing has been complicit in abusive business practices. Washington has also complained that China is forcing US companies to share technology with Chinese firms to gain access to its market.

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