The Trump administration Tuesday unveiled a list of about $50 billion in Chinese electronics, aerospace and machinery products it plans to hit with steep tariffs, the latest move in a deepening U.S.-China trade conflict.
The new 25 percent import taxes are designed to penalize China for discriminatory policies that the United States says put its companies at a disadvantage in the Chinese market. President Trump has complained that the Chinese government forces U.S. companies to surrender their proprietary technology in return for access to local customers and steals other trade secrets via cybertheft.
Trump’s latest protectionist move threatens to upend global supply chains for corporations such as Apple and Dell, raise prices for American consumers who have grown accustomed to inexpensive electronics and aggravate tensions between the world’s two largest economies.
“We’re all about trade with China. We spent the last 25 years building that trade relationship,” Steinkamp said. “I appreciate the president looking out for our entire country. We just don’t want soybeans to be the fall guy and take all the punches from the Chinese.”, Trum says.
News source: Washingtonpost