Any thoughts that a “trade war” between the United States and China was not a possibility were put to rest earlier today based on an announcement coming out of the White House. The White House said that under Section 301 of the Trade Act of 1974, “the United States will impose a 25% tariff on $50 billion of goods imported from China containing industrially significant technology, including those related to the ‘Made in China 2025’ program.”

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