situation report

May 29, 2018 | 14:56 GMT

1 min read

U.S.: White House Outlines Steps to Protect Technology, Intellectual Property from China

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. 

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