Pence: days of imbalanced trade relationships with US coming to an end
US President Donald Trump has taken a strong stand with China and with other trading partners and will fight for access for American goods around the world, US Vice President Mike Pence said, according to the White House website.
"Under President Trump, we’re standing up to countries that have for too long benefitted by access to the American market without giving reciprocal access to their markets," he noted. "Countries - in particular, like China - have been informed that the days of disproportionate and imbalanced trade relationships with the United States are coming to an end," Pence stressed.
Trump has taken a strong stand with China and with other trading partners around the world who "have taken advantage of imbalanced trade deals and also our valuable technologies," the US Vice President noted.
On June 15, Trump said that "in light of China's theft of intellectual property and technology and its other unfair trade practices", the US will implement a 25% tariff on $50 billion of goods from China that contain industrially significant technologies. China has imposed an import duty on 659 types of goods imported from the US worth about $50 billion in retaliatory measures after Trump's move. Yesterday, U.S. Trade Representative Robert Lighthizer unveiled a proposed list of more than 6,000 products to be hit with 10% import taxes.