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Trump Announces Taxes on China's 60 Billion U.S. Exports

  • Author:Fanyu
  • Source:Www.glass.com.cn
  • Release on:2018-03-23
President Trump officially signed a trade memorandum with China at the White House. Trump announced on the spot that it will be possible to impose tariffs on China’s 60 billion U.S. exports.
The signing ceremony was attended by the United States Secretary of Commerce Wilbur Rose, U.S. Trade Representative Lite Shizzle, and Presidential Trade Advisor Peter Navarro and others.
U.S. Trade Representative Latschitzer said at the previous Senate hearing that the goods subject to tariffs will include aviation, railways, new energy vehicles and high-tech products. The U.S. Trade Representative Office will announce the list of goods within 15 days, followed by 30 days of publicity.
Trump said that the U.S. trade deficit with China has been out of control. He also stated that the U.S. trade with the EU and South Korea is also unfair.
Subsequently, he said that according to the “301” trade investigation conducted by U.S. Trade Representative Latschitzer last year, tariffs will be imposed on Chinese exports to the United States. "The Chinese export commodities involved may reach $60 billion," he said.
Trump said while signing the trade memo, "This is the first of many."
In his speech, Liteshitz accused China of being accused of "mandatory technology transfer." Rose said that he believes this measure will lead to negotiations between China and the United States rather than a trade war.
Before the memorandum was signed, U.S. officials revealed that the current tariff collection would involve $50 billion in Chinese exports. This figure is 10 billion dollars lower than Trump's.