The news services are already reporting on the Section 301 Report of USTR, the USTR fact sheet, and the announcement of possible sanctions on 50 billion USD of goods and services imported from China. Possible sanctions include tariffs on aerospace, information and communication technology, and machinery. The announcement also contemplates a possible WTO case against China for its technology licensing practices which are alleged to discriminate against foreign licensors. Investment restrictions are also under consideration.
As in long-past 301’s involving China, China also announced it will strongly oppose these measures, and the media reports that there is a counter-retaliation list. According to press reports, China will impose reciprocal tariffs on $3 billion of imports from the U.S., including a 25 percent tariff on U.S. pork imports and recycled aluminum, and 15 percent tariffs on American steel pipes, fruit and wine. Unlike China, the US list will be announced in the Federal Register after a hearing on the matter, as announced in the fact sheet (above).