China’s finance ministry announced a increase on $60 billion of U.S. products. The aim is to curtail ‘trade friction’, ‘unilateralism’ and ‘protectionist’ policies of the US. This was in response to the US imposing penalties on $200 billion of Chinese goods. The US is currently embroiled in a conflict with China over the Chinese technology policy. They assert that Beijing’s development plans like “Made in China 2025” are based on stolen technology, which undermines America’s postition as the industrial leader in the field. Trump further threatened to add $267 billion in Chinese imports to the target list if China chose to strike back. That would make the aggregate $517 billion – covering nearly everything China sells the United States.
For more information: time.com/5399468/china-tariffs-billions-us-goods-technology/
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