More response from China to the US regarding the Section 301 tariffs.
China’s Ambassador to the United States Cui Tiankai said the tariffs on 128 US products started this week were a measure to the 232 steel and aluminum tariffs only.
For the Section 301 tariffs on the USD 50-60b Chinese imports to US, Cui pledged to take “countermeasures of the same proportion and the same scale, same intensity.” But for now, Cui said China has yet to decide on the countermeasures.
Cui also added that China is strengthening its legal system and be ready to “look at the specific cases if there’s any violation of intellectual property rights… no matter by whoever.”
Cui emphasized that “The real question is how we can make all the technology benefit as many people as possible and all the economies, all the people, will benefit from such programs and there would be a better life for everybody.” And, “It’s not a matter of who will get supremacy, sort of.”
Right now, there is no details on what products would be included in the Section 301 tariffs. And US Trade Representative Robert Lighthizer has until Friday to come up with that list.
