Trump to launch investigation into China trade violations

12 August, 2017, 22:11 | Author: Brenda Erickson
  • Trump to launch investigation into China trade violations

"Our foolish past leaders have allowed them to make hundreds of billions of dollars a year in trade, yet. they do NOTHING for us with North Korea, just talk".

The Trump administration will take steps Monday to launch an investigation into Chinese intellectual property violations that could result in severe trade penalties, a threat the United States could wield to pressure Beijing into improving its economic behavior and doing more to contain North Korea's nuclear threat. They know how I feel.

CNN also reported that Trump told Chinese President Xi Jinping about the expected executive action in a phone call on Friday.

According to Trump advisors, on Monday, the president plans to sign an executive memorandum, which is a step below an executive order, directing trade officials to investigate China's "acts, policies or practices" that violate global protections for American intellectual property, innovations and technology.

"President Trump and President Xi agreed North Korea must stop its provocative and escalatory behaviour", the White House said in a statement. He said it would be premature to speculate on actions that could eventually be taken against China, and added that the issue could be resolved through "negotiated agreement".

The United States has a long list of grievances about China on trade, including accusations of steel dumping and theft of U.S. intellectual property.

In addition to the United States, the European Union, Japan, Germany and Canada have all expressed concern about Chinese theft of intellectual property. "They should not be forced to turn over the fruits of their labor".

S&P falls 1.4 pct in safety flight on N. Korea tensions
The U.S. dollar was down 0.3% at 110.01 yen which hurt the share prices of motor-vehicle makers, technology companies and banks. When Iraq invaded Kuwait 27 years ago this month, the S&P 500 fell 1.1 percent, and was down 9.3 percent 20 days later.


The administration is likely eager to make progress on trade, one of Trump's biggest campaign issues, after a recent series of legislative setbacks, trade experts said.

Trump's threat to investigate China's intellectual property and trade practices is valid, but his administration may not be up to the delicate task of carrying out a new China probe without sparking a damaging trade war, United States business lobbyists said last week.

Like the president, Lighthizer has criticized multilateral venues like the World Trade Organization for failing to provide adequate tools to address China's economic violations.

"We would like to emphasize that the Chinese government has always attached importance to intellectual property protection", a spokesman said.

Section 301 of the Trade Act of 1974, a popular trade tool in the 1980s that has been rarely used in the past decade, allows the president to unilaterally impose tariffs or other trade restrictions to protect US industries from "unfair trade practices" of foreign countries. Instead, he is leading the administration is dusting off a variety of powerful and unilateral measures under US trade law, many of which the United States stopped using after the creation of the WTO, which has its own mechanisms to settle trade disputes.

The administration has been eyeing other moves to rebalance the U.S. "And I think China will do a lot more".

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