President Donald Trump is expected to sign a new “memorandum” of measures, from tariffs to visa restrictions for Chinese nationals, at 12.30 EDT (1630 GMT), staying true to his commitments to target “China’s economic aggression”, according to US Trade Representative Robert Lighthizer.
The tariffs will be in the region of $30 billion, sources told The Financial Times, targeting a wide range of Chinese technology goods in areas with unfair trade practices have allowed Chinese firms to abuse or even stolen US intellectual property.
In his address to congress, Lighthizer also made conciliatory remarks towards US allies that also fear being subject to the tariffs, saying that they would not face the recently-imposed steel and aluminium duties during a negotiation period.
“We think that it is perhaps the most important thing that will have been done in a long time in terms of rebalancing trade with China,” said Lighthizer.
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