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Trump moves ahead with tariffs, launches trade war with China

por John R. Fischer, Senior Reporter | June 15, 2018
CT MRI X-Ray

The green light for the tariffs follows months of tension between the U.S. and China with Trump initially threatening to levy taxes on more than 1,300 Chinese products to dissuade American companies from transferring technology and intellectual property to domestic Chinese enterprises.

Implementation of the 25 percent tax falls under Section 301 of the Trade Act of 1974, which gives the president the right to take action, including retaliation, against foreign governments that violate international trade agreements or who are considered to exhibit actions that threaten U.S. commerce.

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Testifying last month before the Section 301 committee, NEMA representatives urged Trump and the USTR to reconsider implementing tariffs, saying that such an action would lead to an unfair playing field among manufactures and risk a retaliation by China that could materially disadvantage many in the Chinese and global markets.

"U.S. electrical and medical imaging manufacturers support an approach that results in fair and open global markets through the application of clear, binding, and enforceable trade rules and compliance with international norms of intellectual property protection," NEMA told HCB News. "We urge the administration to consider and pursue alternative measures to bring about the necessary changes in Beijing that result in free and fair trade in our global marketplace."

For the complete list of U.S. tariffs, please click here.

HCB News will continue to monitor this story and provide relevant updates as they occur.

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