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Trump Announces Tariffs on China, Limits on Tech Investment

Ten days after Treasury Secretary Steven Mnuchin said the U.S. would be holding off on a trade war with China, the White House announced Tuesday that “specific investment restrictions and enhanced export controls” would be imposed on China in an effort to protect U.S. technology, according to The Washington Post. In a statement, the White House said that the new limits and tariffs on $50 billion worth of imports would be announced by June 30 and implemented shortly after. “To protect our national security, the United States will implement specific investment restrictions and enhanced export controls for Chinese persons and entities related to the acquisition of industrially significant technology,” the White House said in a statement. Commerce Secretary Wilbur Ross is set to arrive in China on Saturday for trade talks, the newspaper reported. Back in April, the president was threatening tariffs on up to $150 billion worth of Chinese imports.