US President Donald Trump’s administration is seeking to impose tariffs on $60 billion of Chinese imports and will target the technology and telecommunications sectors, according to two people who have discussed the issue with the administration. A third source said the tariffs, associated with a “Section 301” intellectual property investigation under the 1974 US Trade Act that began in August last year, could come “in the very near future”. While the tariffs would be chiefly targeted at information technology, consumer electronics, and telecoms, they could be much broader and the list could eventually run to 100 products. Washington is targeting Chinese high technology companies to punish them for China’s investment policies that effectively force US companies to give up their technology secrets in exchange for being allowed to operate in the country along with other allegations of intellectual property theft. China runs a $375 billion trade surplus with the United States and when President Xi Xinping’s top economic adviser visited Washington recently, the administration pressed him to come up with a way of reducing that number. Trump came to office on a protectionist agenda and his first action as president was to pull the United States out of the 14-nation… Read full this story
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