Trump's next trade target: China's IP theft

Potential for a trade war with China is rising as President Donald Trump moves ahead with steel and aluminum tariffs, some analysts and economists warn. With the tariffs set to go into effect 15 days from now, Mr. Trump is also hinting at accelerating the U.S. investigation into intellectual property theft by China, America's biggest trading partner.

"The U.S. is acting swiftly on Intellectual Property theft. We cannot allow this to happen as it has for many years!" Mr. Trump tweeted on Wednesday.

In a meeting with his Cabinet before the metals tariff signing Thursday, the president said he reserves the right to change the figures and add and drop countries at will. Mr. Trump also suggested he wants to push "reciprocal" taxes with other nations.

"We're going to be doing a reciprocal tax program at some point," Referring to China, Mr. Trump said, "It's a mirror tax. They charge us 50, we charge them 50."



Source :- cbsnews

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