Trump is expected to make a speech and sign a memorandum at the White House on Friday targeting China's intellectual property and trade practices, the CNBC news channel reported. The Trump administration is considering initiating an investigation into Chinese trade practices under Section 301 of the Trade Act of 1974. It allows the head of state to unilaterally impose tariffs or other trade restrictions to protect U.S. industries from unfair trade practices of foreign countries. Since the World Trade Organization was established in 1995, US Section 301 investigations have not led to trade sanctions. Wei said that the U.S. is expected to overtake the European Union as China's largest trade partner this year with such growth.

Source: The China Post August 04, 2017 03:11 UTC