Trump urging additional taxes on $100 billion of Chinese goods

in economy •  7 years ago 

U.S. President Trump issued a statement saying that considering unfair trade retaliation in China, he has ordered the U.S. trade office to consider imposing additional tariffs on China's 100 billion-dollar imports (in light's unfair retaliation, I have instructed the USTR to consider whether $ billion of additional tariffs of be would appropriate section 301), but the United States still plans Discuss trade with China.

Robert Lighthizer, the US trade representative, immediately released a statement saying that any additional tariff plans would go through the same publicity period. The US announced on April 3 that the $50bn list of tariff measures against China would be advertised for 60 days. He said no tariffs would take effect until the process was completed.

The full text of the Trump statement:

"The US Trade Representative's Office (USTR), after a thorough investigation under Article No. 301 of the 1974 "Trade Law", concluded that China's continued unjust access to intellectual property rights in the United States was a cause of concern in the world by the practices found in the US Trade Representative survey.

China's illegal trade actions have been ignored by Washington for years. This has destroyed thousands of U.S. factories and millions of U.S. jobs. On April 3, 2018, the U.S. Trade Representative's office announced that it would levy tariffs on about 50 billion dollars of Chinese imports as an initial means of eliminating the policies and practices found in the investigation. However, China has not corrected its misconduct, but has chosen to harm our farmers and manufacturers.

In light of China's unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs.

I also instructed the Minister of Agriculture, with the support of other members of the Cabinet, to implement its broad powers to launch plans to protect our farmers and agricultural interests.

Despite these actions, the United States is prepared to discuss trade with China in order to achieve the promise of free, fair and reciprocal trade and to protect the technology and intellectual property rights of American companies and the American people.

Trade barriers must be eliminated to promote economic growth in the United States and even around the world. I am committed to allowing American companies and workers to compete in a level playing field around the world, and I will never allow unfair trade practices to harm America's interests."

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