(BLOOMBERG) — The Trump administration is considering clamping down on Chinese investments in the U.S. and imposing tariffs on a broad range of its imports to punish Beijing for its alleged theft of intellectual property, according to people familiar with the matter.
The U.S. Trade Representative’s office last year began investigating China’s IP practices under a seldom-used trade law that gives President Donald Trump powers to impose trade restrictions to protect American commerce from unfair trading actions by foreign nations. An announcement about the investigation is anticipated in the coming weeks.
The move would escalate tensions already running hot over Trump’s plan to impose stiff tariffs on steel and aluminum imports, risking retaliation from allies and major trading partners like China and rankling Republican lawmakers over the economic costs. Trump struck a defiant tone this week, tweeting that he’d welcome a trade war.