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Join date : 2015-05-20
Location : United States

The White House is preparing to impose customs duties on Chinese goods worth $60 billion

on Tue Mar 20, 2018 1:55 pm
The White House is preparing to impose customs duties on Chinese goods worth $60 billion

US President Donald Trump is preparing to introduce customs duties on Chinese goods for a total amount of about $60 billion a year.

This was reported by The Washington Post, citing sources in the administration Trump.

According to the publication, the relevant package of measures will be published by March 22.

US authorities repeatedly accused China of violating intellectual property rights, for which Trump promised to punish Beijing.

According to the newspaper, Tramp's advisors offered him a package of measures, which included the imposition of duties for a total of approximately $30 billion a year on the boards of goods supplied from China, but the US president ordered to increase this amount by half.

Additional duties may apply to more than 100 items that, according to the Trump administration, were developed using US technology that was stolen or obtained in exchange for access to the American market.

It is also noted that the adoption of such measures may cause a wave of response by China and endanger trade cooperation between the two countries.

At the same time, many representatives of American business agree with criticism of China by the Trump administration, but do not agree with the way of solving this problem.

"The American-Chinese business council believes that the introduction of new duties will bring more harm than good in terms of improving the protection of intellectual property of US companies in China. Business representatives are striving for a solution to this problem, rather than simply imposing sanctions, "said John Frisby, the head of the American-Chinese business council.

At the same time, some American businessmen support the introduction of duties on Chinese goods.

"This will be a clear indication that the country's president intends to combat such a violation of intellectual property rights," said Scott Paul, President of the Alliance of American Producers.

In 2017, China became the largest trading partner of the United States, pushing Canada and Mexico. The US exported $130.4 billion worth of goods to China, and imported almost 4 times more, which led to a deficit of trade balance of $375.2 billion.

Donald Trump introduced import duties on steel (25%) and aluminum (10%). The orders signed by the president will come into force on March 23. Mexico and Canada are still excluded from the list of countries.

Earlier it was reported that the Ukrainian government is working to bring Ukrainian metal products out of the US customs duties.  In Ukrainian/український
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