Trump hits China with $50B tariffs, investment restrictions

A computer screen displays an announcement on the Chinese Trademark Office website approving of the Ivanka Trump trademark to be used in wide variety of products from beverages to instant noodles and spices in Beijing China. China has approved 13 Ivank

"From now on, we expect trading relationships to be fair and to be reciprocal", President Donald Trump said in a statement.

"We are surprised by the strategic statement released by the White House, but, at the same time, it is somewhat expected", the statement said. The Ministry said the White House's announcement "is contrary to the consensus the two sides have previously reached", according to China's official news agency, Xinhua.

This after the US decided on Tuesday that it will impose a hefty 25-percent tariff on 50-billion dollars' worth of Chinese goods containing "industrially significant" technology.

"The thinking became that if the USA doesn't have any leverage and there is no pressure on our Chinese friends, then we will not have serious negotiations".

After Trump's initial tariff threat, Beijing promised to retaliate in kind to any duties.

China retaliated by imposing additional tariffs worth about United States dollars three billion on 128 U.S. products.

President Donald Trump on Tuesday announced that tariffs on $50 billion worth of Chinese goods would go forward despite a broad trade agreement.

German carmakers denounce Trump's new imports threat
In a separate statement released by the White House, Trump said he had "instructed" Ross to "consider" kicking off the probe. Almost half of the vehicles sold in the US are imported, with many coming from assembly plants in Mexico and Canada.

Barely a week after Treasury Secretary Steven Mnuchin said that the trade war with China was "on hold" and that tariffs would be suspended as talks continue, the White House issued a statement saying that the United States would move ahead with its plan to impose 25 percent tariffs on $50 billion worth of imported Chinese goods within the next month. Trump shot back with a threat of up to $150 billion in tariffs on Chinese imports to the U.S. The National Electrical Manufacturers Association (NEMA) said earlier this month that if imposed, the tariffs would cause "collateral damage" to USA manufacturers because many vendors either produce their own products in China or source finished goods and components from contractual partners in China. He said the two countries were in talks and had made "meaningful progress".

Any Sinologist would tell you that the Anglo-American opium wars were the most traumatic events in China's history and that one of the core tenets of the implicit social contract between the people and the ruling Communist Party is that Chinese leaders must ensure that China never again experiences a new defeat of such magnitude and is never again subjected to the resulting national humiliation.

The proposed investment restrictions and enhanced export controls will be announced by June 30 and they will be implemented shortly thereafter, it said.

China cut tariffs on US automobiles and Trump has pledged support for ZTE, a Chinese company affected negatively by USA sanctions.

"Last week, the President revealed the utter hollowness of his promises by pledging the American government resources to a Chinese company that has violated U.S. sanctions by selling technology to North Korea and Iran, and that is a known cyber security risk to the United States", she said. "The Chinese government is known for using their military's cyber capabilities to hack into private U.S. tech firms, stealing IP, then transferring the technology to state-run companies who profit from its development", he said.

The ban was meant to be punishment for what U.S. officials said were false statements by ZTE over actions it claimed to have taken regarding the illegal sale of goods to Iran and North Korea.

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