By Bob Davis 

WASHINGTON -- President Donald Trump said the U.S. is planning to levy tariffs on about $60 billion of imports from China, as well as impose restrictions on technology transfers and acquisitions by Beijing to pressure China to curtail what the U.S. considers unfair trading and investment practices.

"It's out of control," said Mr. Trump, referring to the trade deficit with China.

Mr. Trump made the announcement Thursday at the White House. Earlier in the day, White House aides had said the U.S. was planning to levy tariffs on $50 billion of imports. It wasn't immediately clear why the president cited a different, higher number.

The Trump administration complains that the Chinese use intimidation and subterfuge to acquire U.S. technology, put U.S. firms in China at a disadvantage through unfair licensing deals and siphon away U.S. jobs. Mr. Trump sees confrontation as the way to get results, feeling that past administrations haven't been tough enough, said senior White House officials.

China contends it has improved its protection of intellectual property and that it is moving fast to further liberalize its economy. It also is putting together a package of retaliatory measures against U.S. tariffs.

The $50 billion figure equals about 10% of U.S. imports from China. U.S. officials said the amount is roughly equal to its calculations of annual lost earnings by U.S. companies in China as a result of forced joint ventures and technology transfers.

U.S. industry would get 15 days to comment on which products should be selected for tariffs, said senior White House officials. The U.S. Trade Representative has selected 1,300 product categories that might be covered by the new tariffs. Many of those are for high-tech products, said the U.S. officials, and are expected to add up to about $50 billion of goods.

On investment restrictions, the officials said, the Treasury would have 60 days to come up with a specific plan. The U.S. already has made it tough for Chinese firms to invest in the U.S., blocking the purchase of a number of U.S. semiconductor firms.

The Committee on Foreign Investment in the U.S., an interagency group, screens proposed bids for national-security concerns.

While Congress is debating whether to broaden the jurisdiction of CFIUS to include the acquisition of U.S. technology through joint ventures in the U.S. and abroad, the Trump administration wants to go further. It wants to consider economic harm as well.

"The harm done by theft of our technological seed corn is almost incalculable," said a senior White House official.

The tariff and investment actions are being taken unilaterally and are bound to kick up opposition from U.S. companies and allies abroad.

"Holding China accountable for refusing to follow global trading rules is important and necessary," said a statement by National Retail Federation President Matthew Shay, "But instead, the tariffs proposed by the administration will punish ordinary Americans for China's violations."

But some lawmakers who have been urging a tougher line on China applauded the U.S. action. "I don't agree with President Trump on a whole lot, but today I want to give him a big pat on the back," said Senate Minority Leader Chuck Schumer (D., N.Y.). "He is doing the right thing when it comes to China."

The administration is also looking to sign up allies to pressure China.

The White House officials said the U.S. will also bring a case to the World Trade Organization arguing that China is favoring domestic companies when it comes to licensing. The WTO in Geneva adjudicates trade cases and can authorize countries to assess tariffs when a country doesn't comply with international trade rules.

In Geneva, WTO members routinely sign on to complaints. China has been a big target for cases brought by the U.S., Japan and the European Union.

The White House officials point to a statement released by the U.S., EU and Japan after a WTO session in December 2017, where the three trading powers "agreed to enhance trilateral cooperation in the WTO and in other forums" to get China to reduce its "severe excess capacity" in a number of industries.

Recently, the U.S. announced tariffs on imports of steel and aluminum, due to go into effect Friday on countries that haven't won temporary exclusions. The aim was to get allies to pressure China to reduce its excess capacity -- and exports -- in those commodities. Those tariffs, though, have split the U.S. and its allies and made Washington the target of criticism, rather than Beijing.

Thursday's actions are the culmination of a months-long investigation into Chinese intellectual-property practices, including Beijing's demands that foreign companies form joint ventures to do business in China and then pressures U.S. companies there to turn over advanced technology to Chinese partners.

The report also finds that China imposes substantial restrictions on foreign investment through unfair licensing agreements, and uses state funds to subsidize the acquisition of U.S. technology and build up domestic companies.

The report "clearly demonstrates there are unfair practices by China," said Everett Eissenstat, deputy director of the White House National Economic Council.

--William Mauldin and Siobhan Hughes contributed to this article.

Write to Bob Davis at bob.davis@wsj.com

(END) Dow Jones Newswires

March 22, 2018 13:14 ET (17:14 GMT)

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