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Breaking story per NPR:
The Trump administration is preparing to impose some $50 billion worth of tariffs on Chinese imports, in a major escalation of the president's "America First" trade policy. President Trump is also calling for new limits on Chinese investment in U.S. technology, in an effort to protect what the administration calls America's "economic seed corn."
The tariffs are a response to longstanding complaints that China unfairly requires U.S. companies to share their technology as a cost of doing business in that country. The administration is also concerned that China is strategically acquiring innovative technologies through investments in the United States.
Aides described the $50 billion figure as a conservative estimate of what forced technology transfer and other moves by China cost the U.S. economy.
Trump is expected to sign a presidential memorandum Thursday directing his trade representative to draw up a long list of Chinese products to which the tariffs would be applied. The list will be made public in 15 days, and the tariffs would take effect after a period of public comment.
Business leaders acknowledged that China's treatment of intellectual property is a problem, but they warned that tariffs could backfire. Dozens of trade groups sent a letter to the president on Sunday urging Trump to pursue a different course.
https://www.npr.org/2018/03/22/596058282/president-trump-orders-50-billion-tariffs-on-china
Trade war bitches!
And, in a strange confabulation, Fox News adds this Gem:
Dow down triple digits as Trump's lead lawyer resigns
https://www.foxbusiness.com/markets...s-trumps-lead-lawyer-resigns-trade-fears-grow
Lol, stay golden Fox.
S&P 500 turns negative for 2018 as stocks tumble on trade fears
https://www.marketwatch.com/story/dow-poised-to-drop-by-more-than-100-points-2018-03-22
The Trump administration is preparing to impose some $50 billion worth of tariffs on Chinese imports, in a major escalation of the president's "America First" trade policy. President Trump is also calling for new limits on Chinese investment in U.S. technology, in an effort to protect what the administration calls America's "economic seed corn."
The tariffs are a response to longstanding complaints that China unfairly requires U.S. companies to share their technology as a cost of doing business in that country. The administration is also concerned that China is strategically acquiring innovative technologies through investments in the United States.
Aides described the $50 billion figure as a conservative estimate of what forced technology transfer and other moves by China cost the U.S. economy.
Trump is expected to sign a presidential memorandum Thursday directing his trade representative to draw up a long list of Chinese products to which the tariffs would be applied. The list will be made public in 15 days, and the tariffs would take effect after a period of public comment.
Business leaders acknowledged that China's treatment of intellectual property is a problem, but they warned that tariffs could backfire. Dozens of trade groups sent a letter to the president on Sunday urging Trump to pursue a different course.
https://www.npr.org/2018/03/22/596058282/president-trump-orders-50-billion-tariffs-on-china
Trade war bitches!
And, in a strange confabulation, Fox News adds this Gem:
Dow down triple digits as Trump's lead lawyer resigns
https://www.foxbusiness.com/markets...s-trumps-lead-lawyer-resigns-trade-fears-grow
Lol, stay golden Fox.
S&P 500 turns negative for 2018 as stocks tumble on trade fears
https://www.marketwatch.com/story/dow-poised-to-drop-by-more-than-100-points-2018-03-22
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