What's the matter with Trump's intention to increase tariffs? US $100 billion in tariffs on goods in China
Trump wants to consider tariffs on China's $100 billion goods
In a White House statement, trump said: 'in view of China's unfair retaliation, I have instructed the U.S. Trade Representative (USTR) to consider whether there are $100 billion of additional tariffs under Section 301, and if so, to determine the products subject to such tariffs. On the 5th, US trade representative leighthezer issued a statement saying that considering China's unfair behavior in technology transfer, intellectual property and innovation, he supported USTR to take additional measures in accordance with Section 301 of the trade law of 1974.
The following is the full text of the trump statement issued by the White House:
After a thorough investigation conducted by the United States Trade Representative (USTR) in accordance with Section 301 of the trade law of 1974, it was found that China has repeatedly engaged in unfair access to U.S. intellectual property.
The practices detailed in the USTR survey have attracted worldwide attention. China's illegal trade practices - ignored by Washington for years - have destroyed thousands of American factories and millions of American jobs.
On April 3, 2018, the U.S. trade representative announced the imposition of tariffs on about $50 billion of imports from China as a preliminary means of eliminating the policies and practices identified in the survey. Instead of correcting its wrongdoing, China has chosen to harm our farmers and manufacturers.
In view of China's unfair retaliation, I have instructed the U.S. trade representative to consider whether an increase of $100 billion in tariffs under Section 301 is appropriate and, if so, to determine the products subject to those tariffs. I also directed the Minister of agriculture, with the support of other members of my cabinet, to use his broad powers to implement a plan to protect the interests of our farmers and agriculture.
In spite of these actions, the United States is ready to engage in discussions to further support our commitment to free, fair and mutually beneficial trade and to protect the technology and intellectual property rights of American companies and the American people. Trade barriers must be removed to promote economic growth in the United States and around the world.
I am committed to enabling American companies and workers to compete in an environment of fair global competition, and I will never allow unfair trade practices to harm the interests of the United States.