CHINA/STEVE MNUCHIN/TARIFFS/TRUMP AS PRESIDENT: “The Trump administration sent a sudden, harsh message to its Chinese counterparts, saying the U.S. was moving forward with its threat to apply tariffs on Chinese imports and other actions to restrict Beijing from accessing sensitive U.S. technology. Tuesday’s [5-29-18] move surprised many observers after the White House had for days trumpeted the outlines of a deal in which any trade war with China would be put on hold while negotiators—led on the U.S. side by Treasury Secretary Steven Mnuchin —worked on a deal that would have China reduce its $375 billion annual trade advantage by buying more U.S. goods. With Commerce Secretary Wilbur Ross heading to Beijing later this week, the administration’s decision to move ahead with tariffs and other measures could give the U.S. added leverage as the trade talks with China resume. The White House said Tuesday that it would announce by June 15 a final list of $50 billion in imports from China that would be subject to tariffs of 25%, with the duties implemented ‘shortly thereafter.’ Planned investment restrictions aimed at preventing Chinese acquisition of U.S. technology would also be announced by June 30, the White House said in a statement.”
-William Mauldin and Lingling Wei, “U.S. Moves Ahead on China Trade Curbs, Catching Beijing Off Guard,” The Wall Street Journal, May 29, 2018 8:33 pm