Trump announces $60 billion Tax on Chinese Exports

（China Glass Network）

U.S. President Donald Trump formally signed a trade memorandum with China at the White House. Trump announced on the spot that a possible tariff would be imposed on $60 billion of Chinese exports.

The signing ceremony was attended by US Commerce Secretary Wilbur Ross, US Trade Representative Lyte Heyzer, President's Trade adviser Peter Navarro and others.

At a Senate hearing earlier, U.S. Trade Representative Walter Heyzer said the tariffs would include aviation, railways, new energy cars and high-tech products. The Office of the U.S. Trade Representative will publish its list of goods within 15 days. Then there will be 30 days of publicity.

Trump said the US trade deficit with China was out of control. He also called the United States and the European Union, and South Korea's trade was unjust.

Then, he said, will be based on the United States trade representative Wright chize since last year to carry out the "301" survey of China trade export to American goods tariffs. "Related to the China exports may reach $60 billion (It could be about$60 billion)," he said.

Trump signed the trade memo, saying, "It’s just the beginning (This is the first of many)."

In his speech, Lyte Heyzer accused China of being alleged to be "forced technology transfer". Ross said he thought this initiative would facilitate Sino US negotiations rather than trade wars.

Before the signing of the memorandum, US officials revealed that the levy would involve 50 billion US dollars in Chinese exports. This figure is 10 billion yuan lower than Trump's statement.