The Trump administration will impose a 25 percent tariff on up to $50 billion in Chinese goods, a decision that brought swift condemnation from Beijing as trade conflicts between the world’s two largest economies escalate. In a statement Friday, President Donald Trump said the measures will affect Chinese goods “that contain industrially significant technologies.” The action comes “in light of China’s theft of intellectual property and technology and its other unfair trade practices,” he added.
Trump noted that the White House could impose additional tariffs if China retaliates with duties of its own on American crops or other products. Shortly after Trump’s announcement, China’s Commerce Ministry said it would impose tariffs immediately and at the same scale as the U.S. did. Beijing added that all previously agreed to trade negotiations are no longer valid. READ MORE
