White House to impose 25% tariff on $50bn worth of Chinese goods

Those restrictions will be announced by June 30 and adopted soon after that, the administration said, adding that the United States would also continue to pursue a trade case it has filed against China at the World Trade Organization involving intellectual property rights.

The Trump administration previously announced a list of Chinese products affected by the tariff primarily focused on electronics, aerospace and machinery products.

It said the final list of covered imports, worth around $50bn (£38bn), will be published on June 15, with the 25pc tariff imposed shortly after.

The White House said on Tuesday: "Discussions with China will continue on these topics, and the United States looks forward to resolving long-standing structural issues and expanding our exports by eliminating China's severe import restrictions".

The White House said it will also implement "specific investment restrictions and enhanced export controls" for Chinese individuals and entities related to technology in the coming weeks.

Tensions between China and the United States had escalated in recent months as US President Donald Trump threatened to impose steep tariffs on Chinese exports to the United States.

In a brief statement, the White House said the president plans to take "multiple steps" to protect domestic technology and intellectual property from certain "discriminatory and burdensome trade practices by China".




"For instance the United States charges a 2.5 percent tariff on Chinese cars, while China now maintains a 25 percent tariff on cars from the United States", the White House said.

China pressed the U.S.to give ZTE a break after the Commerce Department cut off the company from USA suppliers to punish it for allegedly lying to American officials in a sanctions case.

According to a press release issued by the White House, the USA will announce investment restrictions and enhanced export controls on China by June 30.

Treasury Secretary Steven Mnuchin said a trade war with China was "on hold" less than 10 days ago.

In mid-May, China agreed to increase purchases of U.S. agriculture and energy products, and last week, the U.S. Commerce Department told lawmakers it had reached a deal to put Chinese telecommunications firm ZTE Corp (0763.HK) (000063.SZ) back in business.

If the two sides fail to reach an agreement and the United States moves forward with tariffs, Chinese officials have said they plan to retaliate with tariffs of their own on USA exports such as soybeans.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.