The government will impose tariffs of 25% on certain Chinese products with “significant industrial technology” as part of its actions to combat the theft of intellectual property that accused Beijing, the White House said today.
“To protect our national security, the US will implement specific investment restrictions and strengthened export controls for Chinese people and entities related to the acquisition of significant industrial technology,” the White House note said.
Specifically, the government of President Donald Trump announced that it will impose a tariff of 25%, worth 50 billion dollars, on Chinese imports containing industrial technology that Washington considers violate intellectual property regulations.
The measure, which will add other similar yet to be revealed, will begin to apply from next June 30.
“The US will continue its efforts to protect domestic technology and intellectual property, stop non-economic transfers of significant industrial technology and intellectual property to China, and secure access to the Chinese market,” the statement added.
The announcement comes ten days after Treasury Secretary Steven Mnuchin said the trade war with Beijing was “on hold” after a series of talks in Washington with a high-level delegation from China led by Liu He, the main economic adviser to President Xi Jinping.
This weekend is expected to travel to Beijing Wilbur Ross, Secretary of Commerce, with the aim of reducing tensions with the Asian giant.
Trump, however, said last week he was not “satisfied” with the trade negotiations with China.
“I want it to be a great deal for the US and a good deal for China too, it may not be possible,” he added, insisting that the $ 500 billion annual trade deficit with Beijing is proof that the Trade is unfair and disadvantageous for Washington.
The US has demanded Beijing to reduce this imbalance by 200,000 million dollars, if it does not want to be subject to further trade sanctions.