What Happened: The United States outlined the next steps in the U.S. Section 301 investigation on China's intellectual property and technology practices, including placing a 25 percent tariff on $50 billion worth of Chinese imported goods that contain "industrially significant technology," according to a May 29 White House press release. The final list of covered goods will be announced by June 15.
Why It Matters: Despite reaching a tentative trade truce with China, the United States appears to be keeping its options open for containing China's economic dominance and trade practices.
Background: The press release comes after China agreed to increase imports of U.S. goods and services. U.S. Secretary of Commerce Wilbur Ross is scheduled to travel to China on June 2 to address details of the agreement, which, if finalized, could likely reduce the trade imbalance between the two countries.
- The U.S. and China Reach a Trade War Truce (May 22, 2018)
- U.S., China: The Trump Administration Lays Out Its Trade Demands to Beijing (May 4, 2018)
- Trump Tosses Out The Trade Rulebook With Latest Tariffs (April 6, 2018)