03.04.201819:04:00UTC+00U.S. Releases Tariff List for $50 Billion Worth of Chinese Imports

Further escalating stakes in a trade showdown with China, the White House announced the imposition of 25 percent tariffs on around 1,300 industrial, technology, transport and medical products in its attempt to coerce Beijing to make changes in its intellectual property practices.

The U.S. Trade Representative's office released a list of mostly non-consumer products worth around $50 billion of annual imports that would affect supply chains for many U.S. manufacturers. The list ranges from chemicals to light-emitting diodes, motorcycle and dental devices. The USTR said that tariffs were proposed in reaction to China's policies that force American companies into transferring their technology and intellectual property to Chinese enterprises.

The department added that China's policies strengthens the country's intention of seizing economic leadership in advanced technology as it pushes forward with its industrial plans.

The announcement of the tariff lists begins a public comment and consultation period that will last for around two months. After the said period, the USTR would finalize the product list. It has scheduled a public hearing on the tariffs on May 15.

China has denied that its policies require technology transfers and has threatened similarly aggressive responses against any U.S. tariffs by imposing trade sanctions of its own, with possible targets including U.S. soybeans, aircraft or heavy equipment. The escalating developments have raised worries of a potential trade war between the two countries.