Saturday, 16 October 2021

US CHINA TRADE: Trump announces China sanctions after IP probe

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The Trump administration has announced sanctions against China after determining that the country is encouraging the theft and transfer of intellectual property from US businesses.

 

The White House said the actions come after years of talks about the issue that failed to produce change.

The actions are expected to include tariffs, as well as other measures.

The White House Imposed sanctions are between $30bn and $60bn in tariffs as well as measures that would restrict investment.

The US may also seek to bring complaints to the World Trade Organization.

America's top trade negotiator, Robert Lighthizer, told members of Congress on Wednesday the US was looking to put "maximum pressure on China and minimum pressure on US consumers".

MrLighthizer said protecting intellectual property was critical to the US economy.

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