USA announces timeline for 25% tariff on Chinese tech products

Share

In a statement on Tuesday (May 29), the White House said tariffs of 25 per cent will be applied to Chinese imports containing important technologies, including those related to Beijing's Made-in-China 2025 development programme.

The White House also said new restrictions on Chinese investment and enhanced export controls will be announced by June 30, with implementation soon after. The final list of covered imports will be announced by June 15, 2018, and tariffs will be imposed on those imports shortly thereafter.

As a result, the White House released a list in early April of $50 billion worth of products it would target with tariffs. The United States will also continue to pursue litigation against China at the World Trade Organization. USA officials have long accused China of stealing American intellectual property. "A few q's later, aide says Ivanka Trump had to go to another meeting".

The White House said the policies included forced technology transfer; requiring licensing at less than economic value; state-directed acquisition of sensitive USA technology for strategic purposes; and outright cybertheft.

The announcement on Tuesday restated comments by administration officials that both the tariffs and the restrictions remained in place even after the United States and China sketched out a deal this month to reduce China's $375 billion trade surplus with America. "Right now, we have agreed to put the tariffs on hold while we try to execute the framework", Mnuchin said in a television interview on Fox News.

After Trump administration officials traveled to China at the start of the month, a Chinese delegation came to Washington two weeks later.

White House sending team to Singapore despite canceled North Korea summit
A spokesman for Moon Jae-In, the South Korean president, said details of the surprise meeting would soon be revealed. Trump rapidly tweeted that the statement was "very good news" and told reporters that "we're talking to them now".

However, Mr Trump suggested last week that there was some unease about the talks.

The White House also said on Tuesday that the USA planned to continue litigation at the World Trade Organization over China's intellectual-property practices.

"The United States will continue efforts to protect domestic technology and intellectual property, stop non-economic transfers of industrially significant technology and intellectual property to China, and enhance access to the Chinese market", the statement said.

Ivanka Trump was granted five business trademarks in China earlier in May, just days before her father suddenly scrapped a United States technology ban imposed on Chinese telecom firm ZTE, according to government documents.

The Trump-China business relationship has recently drawn scrutiny after the president bizarrely touted the need to protect Chinese jobs and revive the Chinese telecommunications company ZTE, which had been sanctioned by the USA and was believed to be a national security threat.

Share