Trump Sets 25 Percent Tariff On Chinese Tech Goods In Motion
President Donald Trump has set one of the more aggressive steps on his trade war with China, announcing a 25 percent tariff that will take effect in July on Chinese tech imports. The $50 billion worth of tariffs will affect any Chinese “industrially significant technologies” coming to America.
We first caught wind of the idea when Trump floated the idea around imported steel and aluminum tariffs earlier this year. The current technology tariff seemingly stemmed from that, although he proposed $60 billion at the time.
Trump's goal is to reduce the US' trade deficit with China, which hit an all-time high of $375.2 billion in 2017. Trump also noted: