Trump to unveil China tariff list this week, targeting tech goods

WASHINGTON: The Trump administration this week will unveil the list of Chinese imports targeted for US tariffs to punish Beijing over technology transfer policies, a move expected to intensify trade tensions between the world’s two largest economies.

The list of US$50 billion (RM193 billion) to US$60 billion (RM231.7 billion) worth of annual imports is expected to target “largely hightechnology” products and it may be more than two months before tariffs take effect, administration officials have said.

The US Trade Representative’s office needs to unveil the list of products by Friday under President Donald Trump’s China tariff proclamation signed on March 22.

The tariffs are aimed at forcing changes to Chinese government policies that USTR says results in the “uneconomic” transfer of US intellectual property to Chinese companies.

The agency’s “Section 301” investigation authorising the tariffs alleges China has systematically sought to misappropriate US intellectual property through joint venture requirements, unfair technology licensing rules, purchases of US technology firms with state funding and outright theft.

China has denied that its laws require technology transfers and has threatened to retaliate against any US tariffs with trade sanctions of its own, with potential targets such as US soybeans, aircraft or heavy equipment.

On Sunday, Beijing slapped extra tariffs of up to 25% on 128 US products including frozen pork, as well as wine and certain fruits and nuts in response to steep US tariffs on imports of aluminum and steel announced last month by the Trump administration.

Fears have arisen that the two countries will spiral into a trade war that will crush global growth. – Reuters