The announcement was sure to spark countermeasures by Beijing, which has vowed to retaliate, bringing the world’s two largest economies to the brink of an all-out trade war long feared by markets and industry.
However in a statement, Trump also warned of “additional tariffs” should China hit back with tit-for-tat duties on American goods and services exports.
“The United States can no longer tolerate losing our technology and intellectual property through unfair economic practices,” Trump said in the statement.
“These tariffs are essential to preventing further unfair transfers of American technology and intellectual property to China, which will protect American jobs.”
The announcement caps months of sometimes fraught shuttle diplomacy between Washington and Beijing, in which Chinese offers failed to assuage Trump’s grievances over the soaring US-China trade imbalance.
But Trump’s China trade offensive is only one side of his multi-front trade confrontation with all major US economic partners.
Trump outraged Canadian, Mexican and European leaders last month by imposing punishing tariffs on imports of steel and aluminum to protect American producers from allegedly unfair competition.
The Trump administration on Friday was also due to release a finalized list of Chinese goods that will face the tariffs.
US officials say Beijing has sought industrial dominance in the emerging technologies through the theft of American know-how through forced technology transfers, hacking and other forms industrial espionage. DM
Watch Pauli van Wyk’s Cat Play The Piano Here!
No, not really. But now that we have your attention, we wanted to tell you a little bit about what happened at SARS.
Tom Moyane and his cronies bequeathed South Africa with a R48-billion tax shortfall, as of February 2018. It's the only thing that grew under Moyane's tenure... the year before, the hole had been R30.7-billion. And to fund those shortfalls, you know who has to cough up? You - the South African taxpayer.
It was the sterling work of a team of investigative journalists, Scorpio’s Pauli van Wyk and Marianne Thamm along with our great friends at amaBhungane, that caused the SARS capturers to be finally flushed out of the system. Moyane, Makwakwa… the lot of them... gone.
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So, if you feel so inclined, and would like a way to support the cause, please join our community of Maverick Insiders.... you could view it as the opposite of a sin tax. And if you are already Maverick Insider, tell your mother, call a friend, whisper to your loved one, shout at your boss, write to a stranger, announce it on your social network. The battle for the future of South Africa is on, and you can be part of it.
Sushi is traditionally eaten by hand and not with chopsticks.