Economic security

Trump Turns Tide on Chinese Theft by Trade

After decades of artfully swindling American experts and businesses, the Chinese government is beginning to face a reckoning. Last week, President Trump announced that tariffs in response to China’s systematic theft of U.S. intellectual property will commence on July 6th.

The levies of twenty-five percent will apply at first to $34 billion in Chinese imports, later expanding to $50 billion. That will only affect about ten percent of what America imports from China each year, but the move marks a fundamental turning point. At long last, something is being done about trade and intellectual property theft by China.

Ever since commerce between China and the West began in earnest, foreign officials and businessmen have been unable to resist the allure its huge market of would-be consumers—currently numbering 1.4 billion. This siren’s call continues to be answered despite unending evidence that China would never allow “barbarians” a major stake in its domestic economy, and indeed wants handsome compensation just for access to this market.