Approves New Tariffs Against Chinese Goods for $50 Billion,  USTR to announce products to tariffs on Friday; has said it would retaliate. according to an published on 14th  by Bob Davis  Peter Nicholas. with contribution of Vivian Salama Lingling Wei.

 approved tariffs on $50 billion of Chinese goods, familiar with decision said, as U.S. ratchets up its trade fight with over ’s alleged pressure on U.S. firms to transfer technology to Chinese partners.

The approval followed a 90-minute meeting on Thursday of senior White officials, national-security officials senior representatives of the Treasury, Commerce Department, U.S. Trade Representative’s .

It wasn’t clear the tariffs would go . has said that it intends to assess tariffs on a corresponding amount of U.S. goods.

USTR expects to announce the goods to tariffs on Friday and publish them the Federal Register week, the familiar with the matter said. The affected imports would face 25% tariffs; the products expected to be similar to those on a preliminary that USTR released early April.

The has held public hearings on the of 1,300 categories of products to see duties on any of the goods it selected would unduly harm U.S. and . USTR is expected to cut some of the products from the and add , especially items, the familiar with the matter said.

The U.S. decision could become the start of a tit-for-tat series of retaliatory moves. If the U.S. hits with tariffs, will immediately retaliate with tariffs, said a Chinese official. “We hate unilateral actions,” the official said.

has already said it had prepared its $50 billion lists of U.S. goods that it would to tariffs, especially aircraft and soybeans.

After Beijing made that threat, Trump upped the ante and said the U.S. would add another $100 billion of goods to the U.S.’s tariff list. The U.S. hasn’t followed up on that threat by enumerating goods would be included that batch.

On Thursday, Chinese Foreign Minister Wang Yi said China and the U.S. faced a choice between cooperation and mutual benefit on the one and confrontation and mutual loss on the other.

“China chooses the first,” Mr. Wang told a joint conference, after talks with U.S. Secretary of State Mike Pompeo in Beijing.

“We hope the U.S. also the same wise choice,” Mr. Wang said. “Of , we have also made preparations to respond to the second kind of choice.”

As word filtered through that Mr. Trump was to a decision on tariffs, some trade hawks offered qualified support for the . Rep. Rosa DeLauro (D., Conn.), a longtime opponent of -trade deals, said: “tariffs must be seen as one tool among our to actors China accountable and to bring the Chinese government to the table to secure a more favorable balance of trade.”

But . DeLauro added that Mr. Trump must come up with a “comprehensive strategy” for dealing with Beijing.

The conservative Foundation calculated that the tariffs on Chinese imports, coming on of U.S. tariffs on steel and aluminum exports, would “long-run” gross domestic and wages by 0.06%, reduce employment by 45,293 positions and U.S. taxes progressive.