Donald Trump denounced that China’s trade practices are threatening US and global economic security by a systematic campaign called “economic aggression”. He threatened to increase the tariffs on Chinese goods.
A day after that, a 35-page report, titled “How China’s Economic Aggression Threatens the Technologies and Intellectual Property of the United States and the World”, was released by White House which set off market disorder.
According to the White House report, China had a rapid economic growth and got the world’s second largest economic place by modernizing its industrial base. It has achieved this place by aggressive acts and policies out of global rules, “economic aggression”, that includes physical and cyber-enabled theft of technologies, counterfeiting, and evading US export control laws.
It was added that China wants to continue this policy to get the crown jewels of American technology and intellectual property.
Trump asked the US Trade Representative to increase the tariffs of Chinese goods worth $200 billion to 10 percent.
China has accused Trump for the threatening by new tariffs on Chinese product and has added that China will protect its rights and is ready to fight back.
Although the effect of this new law was on less that 10 percent of the $505 billion Chinese imports, it has caused a historic change between the world’s two largest economies deep ties.