US President Donald Trump has said that his administration has taken the “toughest-ever action” to crack down on China’s unfair trade practices. Trump has been steadily hiking tariffs on Chinese exports to the US since June, asking Beijing to bring down the billions of dollars of trade deficit. He has taken an unprecedented tough measure against the alleged unfair trade practices of China.
The US has a nearly USD 500 billion trade deficit with China per annum, which Trump says is unsustainable for the US. Among the steps being taken by the US include imposing additional 25 per cent tariff on import of Chinese products worth USD 250 billion, announcing new curbs of nuclear technology trade with China and taking steps to stop China from allegedly stealing intellectual property from the US.
Trump patted on his back with regard to his China policy as he listed out the achievements of his administration and the steps that have strengthened the American economy and creating jobs.