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Report: US to hit China with up to $60B in new tariffs by March 23

The Trump administration is expected to announce up to $60 billion in new tariffs on imports from China by March 23. The new tariffs will target intellectual property, technology and telecommunications, Reuters reported March 19, citing two officials briefed on the matter.

The expected tariffs may be subject to a public comment period to allow companies and industry groups to register their concerns, a business source who had discussed the matter with the administration reportedly said.

A delayed approach would give time for talks with Beijing to try to resolve trade issues related to another probe, the administration's Section 301 investigation into China's intellectual property practices.

The White House declined to comment while China vowed to take retaliatory measures.

The latest batch of expected tariffs, authorized under the 1974 U.S. Trade Act, targets information technology, consumer electronics and telecoms and other products benefiting from U.S. intellectual property. But the tariffs could also hit consumer products such as clothing and footwear, with a list of as many as 100 products, a source said.

The new tariffs come on top of the steel and aluminum tariffs, which are set to take effect on March 23, 15 days after President Donald Trump signed the proclamation.