GOP Rep. Kevin Brady on Thursday urged President Donald Trump to be cautious about his new proposed tariffs on China.
The House Ways and Means Committee chairman said Trump, who is expected to unveil his plan Thursday, is right to go after China for intellectual property theft, saying the actions by China cost “thousands of U.S. jobs.”
“The challenge for every president is how to do it in a way that doesn’t punish Americans for China’s misbehavior,” the Texas Republican told CNBC’s “Squawk Box.” “So, you’ve really got to narrow these and target these. It is a very discerning line to do that.”
On Wednesday, top U.S. trade official, Ambassador Robert Lighthizer said Trump would target China’s high-technology sector and could also include restrictions on Chinese investments in the United States. He said the policy goal is to structure the tariffs to inflict maximum harm upon China and try to limit the effect on U.S. consumers.
The administration’s actions are just the latest crackdown on China. Earlier this month, the White House announced tariffs on steel and aluminum imports, sparking fears of a possible trade war and sending the stock market into a tailspin. The tariffs could hurt Chinese imports of the metals.
China’s Global Times, the ruling Communist Party’s official newspaper, suggested in an editorial this week that China take against U.S.-subsidized soybean exports.