U.S. tariffs on Chinese goods starts July 6
- 6 years ago
An escalating and concerning tit-for-tat then.
The Trump administration is fighting on multiple fronts imposing various tariffs on imports from countries like Canada, Mexico and the EU.
But the tariffs on China seem even more aggressive. What's behind this trade rift?
The United States' large trade deficit against China is one reason.
"China. I have a lot of respect for China. I think it's great. But we lost five hundred billion dollars over the last number of years...We want to have a fair and balanced situation and it doesn't have to happen immediately, but it has to be fair."
But underneath those figures, it's more of a battle between the G2 over technological supremacy in the 21st century.
The Trump administration has accused China of forcing U.S. companies to transfer their intellectual property to Chinese companies to enter the Chinese market, and is concerned Beijing's Made in China 2025, a development plan which calls for creating powerful Chinese entities in IT, bio and robotics.
The Trump Administration is using tariffs to specifically prevent Chinese companies from investing in U.S. technology firms, and by blocking additional technology exports to Beijing.
The Trump administration is fighting on multiple fronts imposing various tariffs on imports from countries like Canada, Mexico and the EU.
But the tariffs on China seem even more aggressive. What's behind this trade rift?
The United States' large trade deficit against China is one reason.
"China. I have a lot of respect for China. I think it's great. But we lost five hundred billion dollars over the last number of years...We want to have a fair and balanced situation and it doesn't have to happen immediately, but it has to be fair."
But underneath those figures, it's more of a battle between the G2 over technological supremacy in the 21st century.
The Trump administration has accused China of forcing U.S. companies to transfer their intellectual property to Chinese companies to enter the Chinese market, and is concerned Beijing's Made in China 2025, a development plan which calls for creating powerful Chinese entities in IT, bio and robotics.
The Trump Administration is using tariffs to specifically prevent Chinese companies from investing in U.S. technology firms, and by blocking additional technology exports to Beijing.