US targets Chinese tech with a 25 percent tariff
Steve Dent Engadget June 15, 2018
Donald Trump has slapped a 25 percent tariff on $50 billion worth of Chinese goods, significantly ramping up trade tensions between the nations. The tariff applies to "industrially significant" goods in industries like aerospace, information tech, robotics and machinery, and not on consumer goods like smartphones or TVs. "The United States can no longer tolerate losing our technology and intellectual property through unfair economic practices," Trump said in a statement.
China responded immediately, saying it will impose comparable tariffs on US goods, despite threats from Trump that such a move would results in further retaliatory measures. It also considers all previous trade negotiation gains to be null and void.
"China is unwilling to have a trade war, but the Chinese side has no choice but to strongly oppose this, due to the United States' myopic behaviour that will harm both parties," said China's commerce department in a statement. "We will immediately introduce tariff measures of the same scale and strength. All the results from the previously reached by the two parties will be invalid."
The tariffs will be divided into two parts. The first will be levied on 818 products lines worth around $34 billion, and the second to $16 billion worth of imports on 284 products. China attempted to resolve the situation earlier this month by promising to purchase $70 billion worth of commodities and manufactured goods from China.
The US is engaged in a trade war on multiple fronts, including with close allies like Europe and its neighbors to the north and south, Canada and Mexico. However, China has been the biggest target of Trump's ire, having already been hit with tariffs on solar panels, aluminum and steel.
IndVoter18 hours ago
"US targets Chinese tech with a 25 percent tariff" How about import tariffs at 50% on U.S. companies manufacturing in China then exporting to the U.S. what used to be manufactured in the U.S.; those are companies like Apple, HP, GE, etc.
Joseph18 hours ago
I’d love to see across the board tariffs of 35%-45% so that when people walk into the store to buy a toaster, T-shirt, or AAA batteries the label says Made in USA
Anonymous18 hours ago
Just 25%? I'd like to see 100%.
5 Oppenheimer18 hours ago
The costs will just passed down to the consumer
Colleen18 hours ago
Exactly, it's about time. Every product in this country is almost made from China, it's time to put America back into our stores.
Casual Observer18 hours ago
But trumps apparel business is excused from the tariffs.
Jim Bob18 hours ago
We lost the trade war 30 years ago.
10 DavBG18 hours ago
On $50 billion of the $400 billion trade deficit?
Dixie Normus18 hours ago
How about the low tech Chinese places that make his merchandise?
Blue Wave 202018 hours ago
VOTE DEMOCRAT IN EVERY ELECTION
15 jay18 hours ago
Let the tariff war start. You have to try it to find out what's going to happen.
Ray18 hours ago
Another U.S. recession.
Michael18 hours ago
If you disagree with this, you have no idea how much technology they steal from us. Go Google it
Chico18 hours ago
Its about TIME!
TrumPutin17 hours ago
Donald and Ivanka should manufacture their brand in this country!
Trumpf18 hours ago
25% tariff means 30% spike in 90% of everything you soon will purchase.
Caleb 18 hours ago
So that’s why a lot of the stock market is in true red today...
fkd17 hours ago
what about Ivanka junk?
UndercoverBrother18 hours ago
Preventing or punishing the theft of American intellectual property is farsighted and not "myopic" as the Chinese say. By China's way, it buys soybeans and we send it jet engine technology.