The United States is still bent on purnishing China for allegedly spurring American companies into transferring their patents and technology to Chinese firms inorder to claim economic superiority. To this effect, the US Trade Representative has published a list of Chinese products that would be subject to its proposed tech tariffs, some themes were also included.
This would affect and increase the prices of about 1,300 products, like communication satallites, industrial robots, spacecrafts and some semiconductors.
The proposed tariffs are still subject to a 60-day notice process that would include public comments until May 11th and a public hearing on May 15th. The tariff according to the US Trade Representatives, would truncate the plans that the Chinese had, thereby “minimizing the impact” on the American economy.
No one knows how all these would work out and the fact that China have laws requiring joint businesses operating in the US would not necessarily make the officials back off. The main concern here now is that the whole movement will raise prices for American shoppers.
China on the other hand has vowed to pay back in equal measures if the USTR proceeds with the tariffs.
The Office of the United States Trade Representative (USTR) is the United States government agency responsible for developing and recommending United States trade policy to the President of The United States, conducting trade negotiations at bilateral and multilateral levels, and coordinating trade policy within the government through the interagency Trade Policy Staff Committee (TPSC) and Trade Policy Review Group (TPRG).