It’s first move in trying to get a ‘better deal’ from the Chinese on American imports….
The stock market has dropped 200 points on the news….
American consumers could see a rise in many imports from that country.
Many of his Republican lawmakers friends are gonna get an earful back home….
Any increase in consumer prices will also prove troublesome for his fellow Republicans in the 2018 midterms…
President Trump on Thursday plans to announce at least $50 billion worth of annual tariffs and other penalties on China for its theft of technology and trade secrets, which administration officials say has robbed American companies of billions of dollars in revenue and killed thousands of jobs.
The measures would mark Mr. Trump’s most aggressive move yet against a fast-rising economic rival that he has accused of preying on the United States.
The measures will be targeted at imported Chinese goods in as many as 100 categories — hitting everything from shoes and clothing to consumer electronics — and will impose restrictions on Chinese investments in the United States, people briefed on the measures said.
Mr. Trump will instruct the Treasury Department to pursue restrictions on certain types of Chinese investments to counter China’s ambitious industrial policy, which aims to dominate cutting-edge sectors like artificial intelligence and mobile technology, officials said.
For Mr. Trump, the steps fulfill a frequent campaign pledge to crack down on China, which he has characterized as an “economic enemy” that has “taken advantage of us like nobody in history…..