Trump to announce trade sanctions against China for intellectual property theft
(Worthy News) – On Thursday, US President Donald Trump is set to announce new sanctions against China for stealing US intellectual property, according to a White House official.
The move comes amid heightened fears about a potential trade war over US plans to introduce tariffs on imports of steel and aluminum.
In 2016, total trade between the United States and China reached $579 billion (€468 billion) with Chinese imports of US goods totaling $115.8 billion and US imports of Chinese goods at $462.8 billion. Only the 28-member EU saw more trade with the United States in 2016. Last year the US ran a $375 billion trade deficit with China, though US exports to China also hit a new record high.
US Federal Reserve Chairman Jerome Powell called the prospect of a trade war a growing threat to the United States. [ Source: Deutche Welle (Read More…) ]
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