US to continue tariffs against China if demands aren't met - Reuters

Joshua Gibson FXStreet

As reported by Reuters, the White House made a statement on Tuesday reminding China that they are still withholding tariffs on a targeted $50 billion of Chinese imports, and if China doesn't begin to address the US' accusations of intellectual property theft, they will impose those tariffs.

Washington will also press ahead with restrictions on investment by Chinese companies in the United States as well as export controls for goods exported to China, the statement from the White House said. The announcement on Tuesday restated comments by administration officials that both the tariffs and the restrictions remained in place even after the United States and China sketched out a deal this month to reduce China’s $375 billion trade surplus with America. Even though Washington had not withdrawn the threatened tariffs on imports from China, Beijing reacted harshly to the announcement, saying it was surprised by Tuesday’s statement and would defend its interests.

- Reuters

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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