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Trump wants tougher tariffs on China over stealing of trade secrets

Trump wants tougher tariffs on China over stealing of trade secrets

The Trump administration is pushing China to reduce its trade deficit with the U.S.by $100 billion, a White House spokeswoman told Reuters.

But Canada has been taking a hard line against Trump in disputes regarding Canadian lumber exports and USA dairy exports.

The measures, which are expected to be announced in the next week or two, arise from administration findings that China has violated US intellectual property laws and has unfairly pressured USA companies to transfer technology. A "Made in America" comeback would revive the manufacturing industry we've slowly been losing to other countries and boost the economy and workforce. The tariffs will increase the cost of imported steel and aluminum by 25% and 10%, respectively. It's important that we use it to our advantage when it comes to trading goods with other countries.

The newly ascendant Navarro emerged triumphant last week when former top economic aid Gary Cohn resigned following a bruising internal battle over whether to impose the steel and aluminium tariffs.

The possible tariffs against China follow a report from Politico, in which Trump rejected a proposal by U.S. Trade Representative Robert Lighthizer that called for tariffs on $30 billion of Chinese imports.

Trump was elected on a protectionist agenda, and in the past year he has pulled the USA out of the 14-nation Trans-Pacific Partnership (TPP) and started talks to renegotiate the North American Free Trade Agreement (NAFTA) with Canada and Mexico.

"Once a trade war starts, capable countries won't bow to the US China has tried hard to avoid a trade war, but if one breaks out, appeasement is not an option". "Make trade not war, Mr President".




Volume on US exchanges was 6.53 billion shares, compared to the 7.14 billion average over the last 20 trading days.

German Chancellor Angela Merkel says she's counting on talks to resolve the trade dispute, but "can't predict whether we will succeed or not succeed".

"Trade restrictions based on security put the global steel and aluminum market in confusion", Aso added. -China partnership is symbiotic: The United States needs China to buy soybeans, and Beijing needs that supply to make pig feed to sustain its vital pork industry.

He told the Daily News that the European Union "should not be hasty" and try to negotiate a deal to address USA concerns about national security, which is the stated reason why Trump says he is allowed to place the tariffs. "He's going to be pushing for that, and there could be additional actions", White House Deputy Press Secretary Raj Shah told reporters in a gaggle overseas Air Force One.

That would spook stock markets, but Scissors said that the more serious the conflict became, the worse China's position would become, due to the importance of its USA trade surplus.

In addition, Brussels is considering lodging a complaint with the World Trade Organization (WTO) over Trump's recent move.

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