President of the United States, Donald Trump said in a statement on Monday evening that they will impose an additional 200 billion dollars-worth of tariff on China if they proceed with intentions of retaliating against the US tariff slammed on them last week.
He said China’s response is a clear indication of its determination to keep the U.S at a permanent and unfair disadvantage.
According to him, China has no intention of altering its unfair practices regarding the acquisition of American intellectual property and technology, hence further actions have to be taken to encourage China to open its market to the U.S as well as accommodate a more balanced trade relationship.
The tariff on China is to serve as punishment for intellectual property theft, but Trump says China has refused to change its practices and instead threatens United States companies’ workers and farmers who have done nothing wrong.
On this note, he directed Robert Lighthizer, US Trade Representative, to identify 200 billion dollars worth of Chinese goods for possible additional tariffs.
He added that this is only if China insists on going on with the new tariffs it announced after the U.S slammed a 50-billion-dollar tariff on Chinese goods which is to take effect on July 6.
Image Credit: Time
