Trump hints at sanctioning Beijing, experts say US-China trade war could widen
Washington/Beijing, Mar 22 (IBNS): US President Donald Trump has hinted that his administration could impose sanctions against China on Thursday, after reports claimed that Beijing indulges in transfer and theft of intellectual property from US businesses.
According to findings handed over to the White House, China forces US firms to forge local partnership in order to enter the Chinese market, which in turn facilitates data transfer.
The report also said that it found evidence that China conducting and supporting cyber attacks.
The report is culmination of a recently concluded investigation ordered by Trump in August last year.
According to experts, If the USA does press sanctions against China, it will widen the trade war.
US media has reported that the White House is considering actions which include tariffs between $30bn-$60bn and other measures that would restrict investment.
The reports said that the Trump administration could also seek help from the World Trade Organisation.
Robert Lighthizer, America's top trade negotiator, told US Congress members on Wednesday that the US is looking to put "maximum pressure on China and minimum pressure on US consumers".
"It's an enormously important issue," he said. "We think it is perhaps the most important thing that will have been done in terms of rebalancing trade."
China however has warned the US that there would be no winner from a trade war.
On Tuesday, China's Premier Li Keqiang said that he hoped that both Beijing and Washington would remain calm and the latter would ease restrictions on exports of high-tech goods to China.
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