President Donald Trump is moving ahead with steps to protect us intellectual property by punishing China with broad investment restrictions, litigation at the World Trade Organization and hefty tariffs on $50 billion worth of Chinese goods.
China said last month that it would respond to the U.S. tariff threat with similar measures on $50 billion of American exports, including aircraft, automobiles and soybeans. It announced that the U.S. would take multiple steps to protect domestic technology and intellectual property from certain discriminatory and burdensome trade practices by China.
Those restrictions will be announced by June 30 and adopted soon after that, the administration said, adding that the United States would also continue to pursue a trade case it has filed against China at the World Trade Organization involving intellectual property rights.
Scott Kennedy, a China expert at the Center for Strategic and International Studies, said that many foreign leaders are learning to not overreact to Trump's threats, which frequently are later reversed.
The move signals a move back to offense on China's CM2025 project.
On Tuesday, Trump renewed his threat to place 25 percent tariffs on $50 billion of Chinese goods, in retaliation for what his administration says are China's unfair trade practices. On April 6, 2017 - the same day that Trump and husband Jared Kushner dined with Chinese President Xi Jinping - her eponymous label reportedly won provisional approval for three new trademarks, sparking a strong public reaction. He said the two countries were in talks and had made "meaningful progress".
A US business group says American companies in China are uneasy about Washington's threat of export and investment controls in a trade dispute with Beijing but see them as a possible way to achieve fairer operating conditions.
Google, Facebook Face Complaints Over New EU Law
The complaints center on these four big players seeking to force "users to consent to targeted advertising to use the services". They are keen for regulators to pay attention. " Facebook even blocks accounts of users who have not given their consent".
The final list of Chinese products will be announced by June 15 and the tariffs will go into effect shortly afterwards. Bloomberg had reported that "a potential bill to prohibit ZTE Corp. and other Chinese telecommunications companies from operating in the US would have supermajority support in Congress, Republican Senator Marco Rubio said".
On Tuesday, American hog farmers sent out a plea calling on the administration to swiftly resolve disputes with China, saying that is costing producers billions of dollars in lost profits.
Meanwhile, China has warned of equal retaliation, including duties on some of its most significant US imports, like aircraft, soybeans and vehicles.
U.S. Chamber of Commerce President Thomas Donohue said using tariffs against China "puts all the burden on American companies and consumers".
Trump administration officials last month proposed a ban on sales of crucial American technology to ZTE, a giant Chinese telecom company that employs 80,000 people. Republican Senator Marco Rubio and other lawmakers from both parties have criticized Trump's leniency toward ZTE, arguing that doing business with the company presents a risk to national security.
"We want to reiterate that we don't want a trade war, but we aren't afraid of fighting one", Chinese Foreign Ministry spokeswoman Hua Chunying said at a briefing on Wednesday.