On May 29, the US stated that “it will impose a 25 percent tariff on $50 billion of goods imported from China containing industrially significant technology, including those related to ‘Made in China 2025’”. Furthermore, the statement added, “To protect our national security, the US will implement specific investment restrictions and enhanced export controls for Chinese persons and entities related to the acquisition of industrially significant technology.”
The list of targeted goods will be made public on June 15, and the investment restrictions and export controls are to be announced on June 30, the White House said, adding that the actions are part of “multiple steps to protect domestic technology and intellectual property from certain discriminatory and burdensome trade practices by China.”.
China’s Ministry of Commerce (MOC) responded quickly in the evening of May 29, saying that the US move “clearly contradicts the consensus reached by China and the US in Washington recently.” China’s MOC also stated that China is confident, capable and experienced in terms of defending the Chinese people’s interests and national core interests, regardless of whatever measures the US side may take.The statement concluded by urging the US to meet China halfway in the spirit of their recent joint statement.