President Trump plans to levy $50 billion worth of tariffs on China to penalize the country for intellectual property theft, according to a report Wednesday.
The aggressive measure is aimed at preventing China from undermining U.S. businesses, The New York Times reported.
The trade penalties could hit up to 100 Chinese products, ranging from clothing to electronics, according to the paper. Trump also will have the Treasury Department impose checks on Chinese investment in U.S. tech companies, sources told The Times.
Trump is expected to make the announcement on Thursday. He’s already imposed steel and aluminum tariffs on China, which are supposed to kick in Friday. Trump says the U.S. is at a competitive disadvantage, while critics say tariffs will likely start a trade war.
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