CURRENT AFFAIRS

Detailed explanation-1: -On March 22, 2018, Trump signed a memorandum under the Section 301 of the Trade Act of 1974, instructing the United States Trade Representative (USTR) to apply tariffs of $50 billion on Chinese goods.

Detailed explanation-2: -After conducting an investigation under Section 301 of the Trade Act of 1974, the Trump administration began by imposing tariffs of 25 percent on products covering roughly $34 billion of US imports from China in July 2018 (List 1) and on $16 billion of imports in August (List 2).

Detailed explanation-3: -Likewise, China’s practice of pressuring foreign companies into sharing trade secrets and intellectual property with Chinese corporate partners has disproportionate impact on U.S. companies built around specific technology rights, know-how, and data. And the list goes on.