Trump’s trade war heats up: President approves tariffs on $50billion worth of Chinese imports that could come into force TODAY as world’s second largest economy promises swift retaliation

Friday, June 15, 2018
By Paul Martin

Trump had warned of tariffs over Chinese theft of patents from US tech firms
Tariffs will target technologies where China hopes to become a world leader
Other items possibly included are flamethrowers, defibrillators and false teeth
Comes after Trump slapped steep tariffs on imported steel and aluminium imported from Canada, the EU and Mexico

CHRIS PLEASANCE
DAILYMAIL.COM
15 June 2018

President Trump has approved tariffs on $50billion worth of Chinese goods which could come into force today, it has been reported.

The White House will publish the list on Friday with tariffs to take effect ‘shortly’ afterwards, officials said.

The tariffs will target technology industries where China hopes to become a world leader, after an investigation uncovered rampant intellectual property theft by Chinese companies against US firms.

An initial list of 1,300 good published in April included items such as flamethrowers, false teeth, malaria testing kits and defibrillators, CNN reported.

The new list is believed to include 800 products, though it is not clear exactly which ones had been dropped.

News of the tariffs was initially reported by Bloomberg.

Beijing has threatened to impose tit-for-tat charges on US goods if Trump goes ahead, with cars, planes and soybeans believed to be on its list.

Chinese foreign ministry spokesman Geng Shuang said on Friday morning that his country would ‘respond quickly’ to any moves by the US.

Trump has already slapped tariffs on steel and aluminum imports from Canada, Mexico and the EU, all of which have threatened to retaliate in kind.

Renegotiating America’s trade deals to reduce deficits was a major promise of Trump’s presidential campaign.

But his proposed tariffs against China risk starting a trade war involving the world’s two biggest economies.

The Rest…HERE

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