The Chinese government fired back hours later, threatening to hit $3 billion in U.S. goods with tariffs. President Trump signs a memorandum targeting China’s trade policies in the Diplomatic Reception Room at the White House. By challenging China, Trump rejected the approach of his Republican and Democratic predecessors, gambling that China will bend before he does. Trump said that unfair Chinese trade practices are responsible for the yawning U.S. trade deficit with China, which has reached a record $375 billion on his watch. “There is no way to impose $50 billion in tariffs on Chinese imports without it having a negative impact on American consumers.

Source: Washington Post March 22, 2018 23:14 UTC