White House: Trump announces economic sanctions against China
Light News / Baghdad
White House announced on Wednesday that the US President, Donald Trump is preparing Thursday to reveal sanctions against China include additional customs taxes amounting to billions of dollars, as well as investment restrictions.
The White House, in a statement seen by Anatolia, said the measures came against the background of accusing China of "stealing commercial and technological intellectual property of American companies"
The statement said that these measures are considered "sanctions aimed at the Chinese economic aggression," adding that it will be announced Thursday noon, according to local time.
"President Trump announced on Thursday measures to be taken under Article 301 of the Trade Law on Chinese-led efforts to steal US technology and intellectual property," the statement said.
Trump plans to impose customs duties on hundreds of products coming from China and set limits on investment by Chinese companies in the United States.
Trump had imposed a protection fee on solar panels imported from China at the end of January.
According to the White House, the purpose of these investment restrictions, the protection of artificial intelligence and areas of mobile technology.
According to US sources in a press statement on Wednesday, the tariff to be imposed on Chinese products coming to the United States, ranging from electronic devices, to shoes, will total the value of at least $ 50 billion.
In the opinion of international trade experts, these new measures could raise the fears of a "trade war"; especially as the controversy surrounding Trump's recent imposition of new tariffs on steel and aluminum imports remains.