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Trump administration plans to impose new tariffs on Chinese goods

On Tuesday, the Trump administration announced it will impose a 25% percent tariff on $50 billion worth of Chinese technology goods.

"The United States will implement specific investment restrictions and enhanced export controls for Chinese persons and entities related to the acquisition of industrially significant technology, the White House said in a statement.

The list will be released by June 15 and tariffs will be imposed “shortly thereafter,” the White House said in a statement.

In addition, the White House said it would announce specific investment restrictions and export controls for Chinese entities. The moves come as part of a probe into Chinese violations of U.S. intellectual property.

The announcement comes as Washington and Beijing are in the midst of trade discussions, with both sides hoping to avert a trade war. President Donald Trump last week suggested a deal with China would need a “different structure” even as talks continue.

China and the United States had agreed earlier this month to put threats of tens of billions of dollars in tariffs on ice after Chinese Vice Premier Liu He, the top economic advisor to President Xi Jinping, led a delegation to Washington.

The countries said China would "significantly increase" purchases of US goods and services to reduce their trade imbalance, a top Trump administration demand, and pledged to continue talks.

In a statement, China's Commerce Ministry said the announcement is "obviously in violation" of this recent agreement.

"We were both surprised by and expecting the statement issued by the White House. This statement is obviously in violation of the consensus reached in Washington recently by both China and the United States," the Commerce Ministry said. "Regardless of what measures the US launches, China has the confidence, capability and experience in safeguarding the interests of the Chinese people and its core national interests. China urges the US to move in the direction of the spirit of the joint communique."

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