The Trump administration is readying restrictions on Chinese investment and tariffs on nearly 50 billion US dollars worth of Chinese imports to punish Beijing for stealing American technology and pressuring US companies to hand it over.
China is already warning it will take “all necessary measures” to defend itself, raising the prospect of a trade war between the world’s two biggest economies.
The White House says President Donald Trump will direct the Office of the US Trade Representative to publish a list of proposed tariffs for public comment within 15 days.
USTR has already identified potential targets: 1,300 product lines worth about 48 billion US dollars. The president is also asking US Treasury Secretary Steven Mnuchin to come up with a list of restrictions on Chinese investment.