The White House has called off the tariff truce with China. Tuesday, the White House issued a statement saying it would go ahead with 50-billion in new tariffs in late June as punishment for intellectual property theft. The list of tariffs will be released June 15th.
The White House statement also says more export controls and new restrictions on Chinese investment in industrially-significant technology will be announced June 30th.
China has threatened a 25% soybean tariff as retaliation, even though a Brazilian trucker and dockworker strike is making it difficult to obtain soybeans from America’s top competitor.
