U.S. proposes 25% tariffs on Chinese goods

The Trump administration on Tuesday proposed 25% tariffs on Chinese-made products worth $50 billion in response to alleged technology theft, sparking growing fears of a trade war with Beijing.

The details: The U.S. Trade Representative said the new rounds of tariffs would target products "that benefit from China's industrial plans while minimizing the affect on the U.S. economy." 1,300 industries could be subjected to a 25% tariffs, include aerospace, information and communication technology, robotics, and machinery. The Chinese embassy in Washington “strongly condemns” the proposal, saying in a statement: "China is not afraid of and will not recoil from a trade war. ... If a trade war were initiated by the U.S., China would fight to the end to defend its own legitimate interests with all necessary measures"