Trump Administration to proceed with 25% tariff on Chinese imports
On May 29, President Trump announced his intent to proceed with plans to impose an additional 25 percent tariff on $50 billion of Chinese imports, including many finished goods, components and parts used by NAFEM members. The president also announced plans to limit Chinese investment in U.S. high-tech industries to help protect U.S. technology. The administration is seeking to reduce the U.S. trade imbalance with China and protect America’s intellectual property rights.
The final list of imports that will receive additional tariffs is expected by June 15. Further details on Chinese investment restrictions are expected by June 30.