China Slams Trump’s “Trade War” Announcement, Says It Is A Distraction From “Domestic Turmoil” In The U.S.

Today at 3pm, President Trump will sign a memo addressing ‘China’s laws, policies, practices, and actions related to intellectual property, innovation, and technology’ effectively launching the first shot in what many predict will blossom into an all-out trade war with China. As discussed over the weekend, administration officials said Saturday that memo will direct U. S. Trade Representative Robert Lighthizer to consider investigating China over its IP policies, especially the practice of forcing U. S. companies operating in China to transfer technological know-how.
Predictably, China is not happy. In an editorial published in the China Daily, the government lashed out at Trump, warning him that by ‘politicizing’ trade, he risks ‘exacerbating’ the US’s ‘economic woes,’ and ‘poisoning’ the relationship between the world’s two largest economies.

This post was published at Zero Hedge on Aug 14, 2017.