Trying to fix the US balance of trade
According to Bloomberg, the US Government announced the introduction of tariffs aimed at reducing the US / China trade imbalance and to curtail the current Chinese practice of forced technology transfers. The US trade deficit, which is close to $600 billion annually, has become unsustainable, so something had to happen. Interestingly, 20 years ago the books were balanced. Deutsche Welle reported that the affected sectors will include robotics, aerospace, maritime and modern rail equipment as well as electric vehicles, and biopharma products.