WASHINGTON – U.S. President Donald Trump in coming weeks will get recommendations to address China’s “theft and forced transfer” of American intellectual property, White House trade adviser Peter Navarro said on Thursday.
“This will be one of the steps — one of the many steps — that the president is courageously going to take in order to address unfair trade practices,” Navarro told CNBC, referring to the U.S. trade representative’s “Section 301” investigation into China’s intellectual property practices.
“I don’t think there’s a single person … on Wall Street that will oppose cracking down on China’s theft of our intellectual property or their forced transfer,” Navarro said.
Navarro did not detail the options the administration was considering. Reuters reported on Tuesday that Trump was considering tariffs on up to $60 billion worth of Chinese information technology, telecommunications and consumer products, along with U.S. investment restrictions for Chinese companies.
Navarro said that tariffs, including those on metals imports, will not necessarily provoke a trade war.
“We can obviously do it in a way that can be good for the American people and good for the global trading system,” he said. “We can do this in a way that is peaceful and will improve and strengthen the trading system. … Everybody on Wall Street needs to understand: Just relax.”
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