U.S. expected to impose up to $60 billion in China tariffs by Friday

WASHINGTON, March 19 (Reuters) - The Trump administration is expected to unveil up to $60 billion in new tariffs on Chinese imports by Friday, targeting technology, telecommunications and intellectual property, two officials briefed on the matter said Monday.

One business source, who has discussed the issue with the administration, said that the China tariffs may be subject to a public comment period, which would delay their effective date and allow industry groups and companies to lodge objections.

This would be considerably different from the quick implementation of the steel and aluminum tariffs, which are set to go into effect on March 23, just 15 days after President Donald Trump signed the proclamations.

A delayed approach could allow time for negotiations with Beijing to try to resolve trade issues related to the administration's "Section 301" probe into China's intellectual property practices before tariffs take effect.

10 PHOTOS
The 10 most powerful Chinese export brands
See Gallery
The 10 most powerful Chinese export brands

10. Hisense. Brand Power Score: 482. A Chinese multinational brand that makes white goods and electronics like TVs and tablets. It exports to 130 countries and around 30% of the company's revenue comes from overseas.

REUTERS/Steve Marcus

9. Cheetah Mobile. Brand Power Score: 498. This 7-year-old company is best-known for its free mobile security software, including Battery Doctor, Clean Master, and CM Security. It has more than 634 million monthly active users worldwide and derives most of its revenue from advertising.

REUTERS/Brendan McDermid 

8. Anker. Brand Power Score: 501. This Changsha-based company manufactures electronic accessories like headphones, USB cables, and portable chargers. It sells its products in more than 30 countries.

(Anker)

7. Haier. Brand Power Score: 572. Haier makes large appliances such as refrigerators, washing machines, and dishwashers. Its products are sold in more than 100 countries and its overseas sales account more more than a quarter of its revenues. Last year, Haier acquired GE's appliance division, which will significantly increase its market share in the US.

REUTERS/Rick Wilking TPX IMAGES OF THE DAY

6. Air China. Brand Power Score: 709. The largest Chinese airline, Air China operates on more than 377 routes, 98 of those international. Its overseas business generates around 30% of the company's revenue.

. REUTERS/David Ryder

5. Xiaomi. Brand Power Score: 716. Xiaomi makes smartphones and a range of consumer electronics like fitness bands and TVs. In 2014 it became the most valuable technology startup.

REUTERS/Stringer 

4. Elex Tech. Brand Power Score: 923. You may not have heard of the company, but you may have heard of the most popular mobile game it produces: "Clash of Kings". Elex has more than 50 million users across 40 countries.

(Google Play)

3. Alibaba. Brand Power Score: 1,047. Alibaba is the Chinese ecommerce giant founded by Jack Ma. This month, Ma met with President-elect Donald Trump and discussed plans to create 1 million US jobs by allowing small businesses to sell to China through the company's platform.

REUTERS/Lucas Jackson

2. Huawei. Brand Power Score: 1,256. Huawei produces a range of telecommunications equipment and affordable smartphones. Some 60% of its revenue is generated outside China.

REUTERS/Hannibal Hanschke/File Photo

1. Lenovo. Brand Power Score: 1,682. Lenovo makes PCs, smartphones, tablets, and smart TVs. The company acquired IBM's PC division in 2005 and Motorola Mobility in 2014, helping expand its presence in the west. Now, more than 70% of its revenue comes from overseas.

REUTERS/Gleb Garanich/File Photo
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

The White House declined to comment Monday. China has vowed to take retaliatory measures in response.

Reuters first reported on the $60 billion in tariffs last week.

A source who had direct knowledge of the administration’s thinking told Reuters last week that the tariffs, authorized under the 1974 U.S. Trade Act, would be chiefly targeted at information technology, consumer electronics and telecoms and other products benefiting from U.S. intellectual property. But they could be much broader and hit consumer products such as clothing and footwear, with a list eventually running to 100 products, this person said.

China runs a $375 billion trade surplus with the United States and when President Xi Jinping’s top economic adviser visited Washington recently, the administration pressed him to come up with a way of reducing that number.

In January, Trump told Reuters he was considering a big “fine” as part of a probe into China’s alleged theft of intellectual property. Trump said the Chinese government had forced U.S. companies to transfer their intellectual property to China as a cost of doing business there.

Expectations of the anti-China tariffs have alarmed dozens of U.S. business groups, who warned on Sunday they would raise prices for consumers, kill jobs and drive down financial markets.

12 PHOTOS
Impact of Trump's proposed steel and aluminum tariffs
See Gallery
Impact of Trump's proposed steel and aluminum tariffs
NEW YORK, NY - MARCH 1: A trader is comforted by a coworker as they work on the floor of the New York Stock Exchange (NYSE) on March 1, 2018 in New York City. Major stock indexes plunged Thursday afternoon following President Trump's announcement that he was imposing a 25 percent tariff on imported steel and 10 percent on aluminum. Investor concern about the news rattled the Dow Jones industrial average, which closed down more than 400 points. (Photo by Eduardo Munoz Alvarez/Getty Images)
SAN FRANCISCO, CA - MARCH 02: Wine in aluminum cans is displayed on a shelf at Ales Unlimited on March 2, 2018 in San Francisco, California. Beverage companies that use aluminum for canned drinks are concerned that tariffs proposed by US President Donald Trump could result in higher prices for consumers and job cuts across the industry. (Photo by Justin Sullivan/Getty Images)
U.S. President Donald Trump announces that the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum during a meeting at the White House in Washington, U.S., March 1, 2018. REUTERS/Kevin Lamarque
Members of trade unions hold a protest against US President Donal Trump's import surcharge on Brazilian steel and in defense of their employment, outside the US Consulate in Sao Paulo, Brazil, on March 5, 2018. Since announcing last week plans to impose a 25 percent tariff on steel imports and 10 percent on aluminium, Trump has shrugged off threats from many nations, including China, Canada, Brazil and Mexico among others. / AFP PHOTO / Miguel SCHINCARIOL (Photo credit should read MIGUEL SCHINCARIOL/AFP/Getty Images)
SAN FRANCISCO, CA - MARCH 02: Beer in aluminum cans is displayed on a shelf at Ales Unlimited on March 2, 2018 in San Francisco, California. Beverage companies that use aluminum for canned drinks are concerned that tariffs proposed by US President Donald Trump could result in higher prices for consumers and job cuts across the industry. (Photo by Justin Sullivan/Getty Images)
White House Chief of Staff John Kelly and press secretary Sarah Sanders listen as U.S. President Donald Trump announces that the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum during a meeting at the White House in Washington, U.S., March 1, 2018. REUTERS/Kevin Lamarque
NEW YORK, NY - MARCH 1: Traders work on the floor of the New York Stock Exchange (NYSE) on March 1, 2018 in New York City. Major stock indexes plunged Thursday afternoon following President Trump's announcement that he was imposing a 25 percent tariff on imported steel and 10 percent on aluminum. Investor concern about the news rattled the Dow Jones industrial average, which closed down more than 400 points. (Photo by Eduardo Munoz Alvarez/Getty Images)
Members of trade unions hold a protest against US President Donal Trump's import surcharge on Brazilian steel and in defense of their employment, outside the US Consulate in Sao Paulo, Brazil, on March 5, 2018. Since announcing last week plans to impose a 25 percent tariff on steel imports and 10 percent on aluminium, Trump has shrugged off threats from many nations, including China, Canada, Brazil and Mexico among others. / AFP PHOTO / Miguel SCHINCARIOL (Photo credit should read MIGUEL SCHINCARIOL/AFP/Getty Images)
Chairman, CEO and president of Nucor John Ferriola and U.S. Steel CEO Dave Burritt flank U.S. President Donald Trump as he announces that the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum during a meeting at the White House in Washington, U.S., March 1, 2018. REUTERS/Kevin Lamarque
NEW YORK, NY - MARCH 1: A trader works on the floor of the New York Stock Exchange (NYSE) on March 1, 2018 in New York City. Major stock indexes plunged Thursday afternoon following President Trump's announcement that he was imposing a 25 percent tariff on imported steel and 10 percent on aluminum. Investor concern about the news rattled the Dow Jones industrial average, which closed down more than 400 points. (Photo by Eduardo Munoz Alvarez/Getty Images)
SAN FRANCISCO, CA - MARCH 02: Wine in aluminum cans is displayed on a shelf at Ales Unlimited on March 2, 2018 in San Francisco, California. Beverage companies that use aluminum for canned drinks are concerned that tariffs proposed by US President Donald Trump could result in higher prices for consumers and job cuts across the industry. (Photo by Justin Sullivan/Getty Images)
NEW YORK, NY - MARCH 1: Traders work on the floor of the New York Stock Exchange (NYSE) on March 1, 2018 in New York City. Major stock indexes plunged Thursday afternoon following President Trump's announcement that he was imposing a 25 percent tariff on imported steel and 10 percent on aluminum. Investor concern about the news rattled the Dow Jones industrial average, which closed down more than 400 points. (Photo by Eduardo Munoz Alvarez/Getty Images)
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

(Reporting by David Shepardson and Steve Holland in Washington and David Lawder in Buenos Aires; Editing by Lisa Shumaker)

Read Full Story

Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.