Trump To Impose Stiff Tariffs On China

It's being reported by the New York Times that President Donald Trump will announce stiff tariffs on China on Thursday.

This announcement will supposedly include $50 billion in tariffs annually, on top of other penalties. These penalties come about from theft of technology and various trade secrets by Chinese groups.

The impact of these tariffs will target goods imported from China in some 100 plus categories. Major areas that would be affected include the import of clothing and consumer electronics. These tariffs would also set a number of restrictions on Chinese investments within the United States.

Many experts are concerned with the move as it may increase tensions with China at a time where the United States needs strong support in dealing with North Korea.

Economic experts worry that these new tariffs may show President Trump's desire to move away from the traditional United States position of a free-market economy.

While many are concerned, these tariffs show a willingness for President Trump to follow through with a major campaign promise to punish China on trade.

Source(s): New York Times

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