China could target U.S. tech stocks as part of the ongoing trade war, according to the top equity strategist at Goldman Sachs. Peter Oppenheimer told CNBC’s “Street Signs” on Tuesday that China may impose tariffs on industry components that could have an effect on supply chains.
Many of the trade issues on which U.S. President Donald Trump is now focusing have been concerns for numerous White House administrations, according to Michael Froman, who served as U.S. Trade Representative under former President Barack Obama.
Six states filed an amicus brief in support of a federal lawsuit that accuses Washington Gov. Jay Inslee’s administration of interfering with foreign and interstate trade by denying permits for the controversial project. Attorneys general in Montana, Wyoming, South Dakota, Utah, Kansas and Nebraska argued in the brief that Inslee and state regulators are holding coal-producing states hostage.
Faced with plunging U.S. orders, surgical glove maker Ren Jiding is hunting for new markets amid Chinese government calls to reduce reliance on the United States. But none can absorb the 60 percent of his sales that went to American customers last year.
At the heart of the United States’ Generalized System of Preferences (GSP) lies a recognition that free trade supports economic growth in developing countries, and such trade can be mutually beneficial. However, with their duty-free access to U.S. markets comes the responsibility of abiding by free and fair trade practices.