Don may consider China trade curbs
WHITE HOUSE advisor on trade says that President Donald Trump would soon consider fresh punitive measures against Beijing over its ‘ theft’ of US intellectual property WITH TARIFFS recently announced on major imports including steel and aluminum, trade w
Washington, March 15: A senior White House advisor on trade said Thursday that President Donald Trump would soon consider fresh punitive measures against Beijing over its “theft” of US intellectual property.
The warning raises the temperature for currently fraught US foreign relations, in which Trump's aggressive trade maneuvers have taken center stage.
With tariffs recently announced on major imports including steel and aluminum, trade war fears have sent markets tumbling and left US trading partners torn between conciliation and pushback in response.
“In the coming weeks, President Trump is going to have on his desk some recommendations,” Peter Navarro said on CNBC.
“This will be one of the many steps the president is going to courageously take in order to address unfair trade practices.”
Chinese officials have warned they are likely to retaliate in kind. Speaking at a regular briefing on Thursday, foreign ministry spokesman Lu Kang said: “History has proven that a trade war is in no one's interest.”
“If an undesirable situation arises, China has the intention of safeguarding its legitimate rights,” he said.
The United States has long accused Beijing of forcing US companies to turn over proprietary commercial information and intellectual property as a condition of operating in China.
The office of the US Trade Representative launched an inquiry into the matter in August and is due to submit its findings to the White House soon.
The newly ascendant Navarro emerged triumphant last week when former top economic advisor Gary Cohn resigned following a bruising internal battle over whether to impose the steel and aluminum tariffs.
Trump himself has for decades held nationalistic views on trade and opposed globalisation.