NEWS FLASH: Trump officially signs off on China tariffs

President Donald Trump signed off on tariffs covering $50 billion-$60 billion worth of products from China shortly before 1:00 p.m. today.    President Donald Trump on Thursday formally ordered the Office of the U.S. Trade Representative (USTR) to publish proposed tariff increases for a list of products from China before April 7, pursuant to his administration’s investigation of Chinese intellectual property and technology transfer practices under Section 301 of the Trade Act of 1974, USTR announced.
   Trump signed off on the trade action shortly before 1:00 p.m., which will cover about $50 billion-$60 billion worth of products, senior administration officials have said.
   Statutory language allows the executive branch broadly to take action to bring about the elimination of any harmful conduct found through such reviews.
   After a period of public notice and comment, USTR will publish a final list of products and tariff increases, the agency said.
   The USTR-led interagency report, covered in the Adam Smith Project’s Regulatory Digest, can be found here.
   Immediately after the report’s release, Senate Finance Committee Chairman Orrin Hatch, R-Utah, offered a mixed reaction to the announced action.
   “While I commend the administration for taking much-needed action toward China, I am concerned with their approach on tariffs,” he said in a statement. “Hitting billions in goods with tariffs runs the risk of putting a bigger dent in the pocketbooks of American families across the country. The administration must pursue action resulting from this investigation as part of a comprehensive strategy to address China’s rampant abuse against American innovation.”