The United States has revealed their plan to introduce roughly $50bn in tariffs on Chinese goods, with the hope of limiting the country’s investment activity in the US after years of alleged intellectual property theft.
The introduction of the tariffs follow an investigation of Chinese policies that President Donald Trump ordered in August. The White House said the investigation discovered several “unfair practices.”
Evidence of restrictions on foreign ownership that pressure companies into moving technology, and China imposing unfair terms on US companies led to the White House preparing a list of more than 1,000 products that could be targeted by the tariffs.
China has said it is ready to retaliate against the new tariffs with “necessary measures.” Trump is standing firm though, saying he is looking for “reciprocal” trade terms for US companies.