Trump punishes China by considering broad curbs on Chinese imports, takeovers

(Mar 7): The Trump administration is considering clamping down on Chinese investments in the US and imposing tariffs on a broad range of its imports to punish Beijing for its alleged theft of intellectual property, according to people familiar with the matter.

An announcement following an investigation by the US Trade Representative’s office into China’s IP practices is expected in the coming weeks, potentially handing President Donald Trump further cause to impose trade restrictions. His announcement last week of tariffs on steel and aluminum imports has already ratcheted up global trade tensions -- and led to the resignation Tuesday of his chief economic adviser Gary Cohn, who opposes such measures.

Trump tweeted he’ll be making a decision on a replacement soon and that there are “many people wanting the job.” The dollar fell and an exchange-traded fund linked to US stocks tumbled in after-hours trading. The yen -- often a haven in turmoil -- strengthened to 105.75 as of 11.10am in Tokyo.

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