White House reportedly to increase trade pressure on China

Kevin Lamarque | Reuters

President Donald Trump speaks during a meeting with governors and members of Congress at the White House in Washington, April 12, 2018.

The Trump administration is planning to ratchet up the trade pressure on China through new tariffs and by threatening to block Chinese technology investment in the United States, The Wall Street Journal reported, citing officials familiar with the matter.

The Journal said the U.S. could release details on which Chinese products are on a list of $100 billion in goods that will be slapped with a 25 percent import tariff as early as next week. The report also said the Treasury Department is putting together bans on Chinese investment in U.S. technology that could be permanent.

The move would come after Trump said last week he asked the United States Trade Representative to consider $100 billion in additional tariffs against China. Last month, the U.S. slapped tariffs on up to $60 billion in annual Chinese imports.

Trade tensions between the U.S. and China have increased recently, as the Trump administration takes a more protectionist stance toward trade matters. These tensions have weighed on financial markets recently as investors fear a trade war between the two largest world economies may be around the corner.

Click here for the Journal’s full report.