Trump Socks China In The Eye With $50 Billion Dollar Tariffs And Markets Crash

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“President Donald Trump was set to sign an executive memorandum on Thursday that would impose about $50 billion in retaliatory tariffs on Chinese imports.

The new measures are designed to penalize China for trade practices that the Trump administration says involve stealing American companies’ intellectual property. They will primarily target certain products in the technology sector where China holds an advantage over the U.S.

The new measures follow a so-called 301 investigation led by U.S. Trade Representative Robert Lighthizer into China’s potentially unfair trade practices with the U.S.

Lighthizer’s office will publish a list of targeted products in 15 days, and there will be a 30-day period for public comment, according to senior administration officials.

The Trump administration had previously signaled that the tariffs would apply to at least $30 billion in Chinese imports, multiple news outlets reported. Trump himself has pushed for $60 billion in tariffs on Chinese goods.”



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