WASHINGTON — Citing Chinese intellectual property theft and other unfair trade practices, President Trump has announced plans to levy an estimated $50 billion in tariffs against Chinese goods.
Mr. Trump signed a memorandum March 22 stating his intention to levy the tariffs. The Office of the U.S. Trade Representative will publish the full list of goods to be targeted, potentially encompassing more than 100 products, within the next 15 days, and a 30-day comment period will follow.
Just before Mr. Trump's announcement, U.S. Trade Representative Robert Lighthizer outlined the Chinese products that will be subject to the tariffs, including aeronautics, railroad equipment, advanced technology vehicles and high-tech products.
In response to the Trump administration's action, Chinese officials vowed to open their nation to further foreign investment, while warning the U.S. that a trade war will benefit no one.
In a prepared statement, the Specialty Equipment Market Association (SEMA) is urging the Trump administration to "pursue this issue in a measured fashion that does not have unintended consequences for U.S. companies, workers and consumers."
Along with the administration's hasty roll-out of global steel and aluminum tariffs, SEMA said it is concerned that the response from the U.S.'s trading partners, including China, will be to impose retaliatory tariffs.
SEMA is joining efforts with other business groups to counter unfair tariffs and support free and reciprocal trade.