“They’re Ripping Us Off”: POTUS Trump’s China Trade Crackdown Begins Monday
On Monday, President Trump will begin cracking down on China’s alleged U.S. intellectual property rights violations and forced technology transfers.
Trump on Monday will call for an investigation into China over allegations that the nation violated U.S. intellectual property rights and forced technology transfers, the official said. While it’s unclear how much detail Trump will get into in the announcement, administration officials expect U.S. Trade Representative Robert Lighthizer to open an investigation against China under Section 301 of the Trade Act of 1974.
The pending announcement comes amid heightened tension between the United States and China, even after the Trump administration scored a victory in persuading Beijing to sign onto new United Nations sanctions on North Korea.
It is not clear whether China has the motivation to close off the spigot entirely with North Korea. China is North Korea’s main trading partner, and it is not interested in seeing the economic collapse of the regime, which could send a flood of refugees into China and destabilize its northern provinces.
The ordering of the investigation will not immediately impose sanctions but could lead to steep tariffs on Chinese goods. Trump has expressed frustration in recent months over what he sees as China’s unfair trade policies.
President Trump has been stating for quite some time that “China is ripping us off on trade.”
"China is ripping us off on trade. They're devaluing their currency. And they're killing our companies. We've lost 4 to…
China recently warned the U.S. on striking North Korea first, signaling it would defend Pyongyang if President Trump launched pre-emptive strikes.
In a troubling repudiation of President Donald Trump’s demands that Beijing do more to rein in its bellicose neighbor, Beijing, through the state-owned media, cautioned the US president on Friday that it would intervene (militarily) on North Korea’s behalf if the US and South Korea launch a preemptive strike to “overthrow the North Korean regime,” according to a statement in the influential state-run newspaper Global Times.
“If the U.S. and South Korea carry out strikes and try to overthrow the North Korean regime and change the political pattern of the Korean Peninsula, China will prevent them from doing so,” it said.
At the same time, the Chinese regime made it clear that its preferred outcome would be a continuation of the status quo, warning Kim Jong Un that it would “remain neutral if North Korea were to strike first.” The article, cited by Rueters, reiterated calls for a diplomatic solution. However, the possibility of talks between the two sides was looking increasingly remote as both Trump and Kim continued to exchange threats of nuclear annihilation, with Trump clarifying Thursday that his earlier promise to respond with “fire and fury” should the North continue to threaten the US may not have gone far enough.
China – North Korea’s most important ally and trading partner – has reiterated calls for calm during the current crisis. Beijing has expressed frustration with both Pyongyang’s repeated nuclear and missile tests and with behavior from South Korea and the United States, such as military drills, that it sees as escalating tensions.