U.S. President Trump signed a memorandum of the President on the 22nd, according to the results of the '301 investigation', will impose large-scale tariffs on goods imported from China and restrict Chinese companies from investing in U.S. mergers and acquisitions. Trump told the media before the White House’s signing. The scale of China’s merchandise related to taxation can reach 60 billion U.S. dollars. The Chinese Ministry of Commerce previously stated that China will never sit back and ignore the legitimate rights and interests. It will surely take all necessary measures to resolutely safeguard its legitimate rights and interests.
According to the memorandum signed on that day, the U.S. Trade Representative Office will formulate a specific plan to impose tariffs on Chinese goods within 15 days. At the same time, the U.S. Trade Representative Office will also sue China to the World Trade Organization on related issues. In addition, the U.S. Department of the Treasury will Within days, the plan was introduced to restrict Chinese companies from investing in mergers and acquisitions of US companies. Earlier in the day, White House officials said at a briefing that Chinese goods involving taxation were valued at about $50 billion.
The Office of the U.S. Trade Representative announced in August last year that it initiated the '301 investigation' for China. The so-called '301 investigation' was derived from article 301 of the U.S. Trade Act of 1974. This provision authorizes U.S. trade representatives to be unreasonable or unfair to other countries. Trade Practices' initiates an investigation and can recommend that the President of the United States implement unilateral sanctions after investigations, including withdrawal of trade preferences, the imposition of retaliatory tariffs, etc. This investigation was initiated by the United States itself, investigated, adjudicated, enforced, and has strong unilaterality. Colorism.
According to a study recently released by the U.S. Information Technology Innovation Foundation, if the Trump administration imposes a 25% tariff on imports of information and communications technology products from China, this will cause the U.S. economy to lose about $332 billion in the next 10 years.