Global Geopolitical Series: Trump considering to impose tariffs on $60 billion Chinese imports

According to reports published in Reuters and several other news outlets like Politico, President Trump is considering to impose tariffs on Chinese imports worth $60 billion, targeting telecommunications and technology sectors. Washington contemplated the tariffs after accusing Chinese technology companies of intellectual property theft, alleging that US companies have been forced to give up their technological secrets in order to continue operating in China.

According to unconfirmed reports, the United States’ trade representative, Robert Lighthizer initially presented Trump with a package of tariffs that would target the equivalent of $30 billion a year in Chinese imports. However, unhappy President asked Lighthizer to aim for a much bigger number. Trump has long criticized China for intellectual property theft and a week ago he tweeted, “The U.S. is acting swiftly on Intellectual Property theft. We cannot allow this to happen as it has for many years!” At the same time, he also tweeted, “China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States. Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with. We must act soon!”

Last year, the United States ran almost $375 billion trade deficit with China. The new tariff announcement might come as early as next week.