President Trump’s intention to impose hefty tariffs on Chinese imports and threats of retaliation from China sparked fresh worries last week about higher prices for American shoppers and steep revenue losses for U.S. businesses.
Trump said he’ll impose 25% tariffs on $50 billion to $60 billion in Chinese exports to the U.S.A, including aerospace, information and communication technology, and machinery. The strategy is aimed at countering Chinese cyber and intellectual property theft of U.S. technology. It also tries to resist demands from China for technology transfers from U.S. companies, in return for access to China’s market.
