Trump announces $60 billion trade sanctions and tariffs on China

APD NEWS

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Citing a systemic, state-sponsored system of intellectual property theft, the Trump Administration has begun investigating whether to impose about $60 billion worth of sanctions on China.

The action is sparking fears of an intensifying trade war.

A Senior Trump Administration Official accused China of imposing unfair restrictions and regulations on foreign companies seeking to do business in China.

According to the official, U.S. companies are routinely required to transfer technology and intellectual property to Chinese companies in order to do business in China. The official also accused China of placing “substantial restrictions” on U.S. investment in China.

President Donald Trump is giving the United States Trade Representative, Robert Lighthizer, 15 days to recommend whether to impose tariffs on China and in which sectors. In addition, the United States is planning to file complaints against China at the World Trade Organization.

"There are some areas that you just have to protect yourself from,” Lighthizer said in an appearance Thursday at a U.S. Senate Finance Committee hearing. “They're not going to change their attitude on these things. But we need to be in a position where U.S. industry is not wiped out because of it. And if we don't do that, shame on us."

China is already pushing back against the idea that it is employing unfair trade practices.

“China completely disagrees with, and also cannot accept, this so-called ‘economic invasion,’” said Chinese Foreign Ministry spokesperson Hua Chunying. “The word ‘invasion’ cannot be used to label China in any way.”

On Friday, the Trump Administration’s plan to impose tariffs on steel and aluminum imports are set to take effect. Lighthizer said today Chinese imports will be affected, unlike products from Canada, Mexico, Europe, Australia, Argentina, Brazil, Korea, which will be exempted.

(CGTN)