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President Donald Trump launched the next salvo in his widening war on Chinese trade abuses, this time taking aim at China's unfair seizure of US intellectual property.Trump on Thursday directed the US trade representative to level tariffs on about billion worth of Chinese imports following a seven-month investigation into the intellectual property theft, which has been a longstanding point of contention in US-China trade relations. In addition to the tariffs, the US also plans to impose new investment restrictions, take action against China at the World Trade Organization and the Treasury Department also will propose additional measures."We have a tremendous intellectual property theft problem," Trump said. "It's going to make us a much stronger, much richer nation."The move, which comes on the heels of the administration's steel and aluminum tariffs that also took aim at China, has already been met with threats of retaliation from China and is heightening concerns of a global trade war that could destabilize the global economy -- fears the Trump administration has repeatedly brushed off.Trump on Thursday signed a memorandum announcing the trade actions, invoking Section 301 of the 1974 Trade Act, which formed the basis for the administration's investigation.Before signing the measure, Trump lamented the US' multi-hundred billion dollar trade deficit with China and said the action would be "the first of many."Trump prefaced his trade action by insisting he views China as a "friend" and said he has "tremendous respect" for Chinese President Xi Jinping, as he flicked to China's support in pressuring North Korea to denuclearize."They are helping us a lot in North Korea," Trump said. "But we have a trade deficit ... there are many different ways of looking at it, but no matter which way you look at it, it is the largest trade deficit of any country in the history of the world."Trump said the US would continue to engage diplomatically with China to reduce the trade imbalance, even as he signed an action that is likely to exacerbate tensions between the two countries.Robert Lighthizer, the US trade representative, said the tariffs would focus on theft of US technologies and said Trump "concluded that we should put in place tariffs on appropriate products" following the investigation."This is an extremely important action. Very significant and very important for the future of the country, really across industries," Lighthizer said.The investigation concluded that China has stolen or coerced US companies into turning over their intellectual property through a series of state-run structural maneuvers, including its requirement that foreign companies partner with Chinese companies to access the Chinese market, said Everett Eissenstat, the deputy director of the National Economic Council for international economic affairs.The investigation also assessed that China has stolen US intellectual property by hacking US computer networks, though senior administration officials said Thursday's tariffs would not account for the value of that intellectual property theft, which they estimated to be in the hundreds of billions of dollars.The incoming tariffs are the most significant to date from a President who campaigned on a promise to correct the US' global trade imbalance, particularly with China, and to revitalize US manufacturing. The move is just the latest sign that Trump is intent on putting his protectionist rhetoric into action despite concerns from economists and financial analysts, including within his own administration.Beyond the threat of a far-reaching trade war, economists have warned US consumers are likely to bear the cost of the tariffs and worries about Chinese retaliation are mounting."A trade war does no good to anyone. There is no winner," China's Premier Li Keqiang said at a news conference in Beijing in anticipation of the Trump administration's tariff action.The Trump administration, though, has said it is simply taking long-overdue action following years of unfair Chinese trading practices that they argue previous administrations have insufficiently countered.Peter Navarro, Trump's hawkish top trade adviser, said the administration had decided on the tariffs in lockstep and said the US opted to take tariff actions after dialogues with China over the last 15 years have failed to produce significant changes in Chinese behavior."Administrations before us and this administration has tried very, very hard to work with the Chinese," Navarro said. "Talk is not cheap. It has been very expensive to the American people."The tariffs will not take immediate effect. Instead, the US trade representative will publish a list of targeted goods within 15 days and will then allow for a 30-day public comment period.Pressed about the impact on US consumers, a senior administration official said the administration believed the tariffs would result in only "minimal effects" on US consumers."In terms of the broader calculus of the harm that is done by what is the theft ... of intellectual property is almost incalculable," the official said.  5136

POWAY, Calif. (KGTV) -- The brother of Rabbi Yisroel Goldstien pleaded guilty in federal court Monday to charges relating to a conspiracy to conceal more than 0,000 in earnings from the IRS, according to the US Attorneys office.According to a news release, Mendel Goldstein, the owner of a videography business based in Brooklyn pleaded guilty to tax evasion charges.The office says that until 2018, Yisroel Goldstein used the Chabad of Poway to divert his brother’s income and conceal the money from the IRS.RELATED: Poway rabbi pleads guilty to tax fraudAccording to the US Attorneys office, the brothers hid the money by depositing it into Chabad accounts before funneling it back to Mendel Goldstein by writing checks to fictitious names such as “Mr. Green,” Mr. Gold,” and Mr. Fish.”The brothers also agreed that Yisroel Goldstein could keep 10 percent of the income as a fee for the exchange, according to a plea agreement.In 2020, Yisroel Goldstein, along with five other people, pleaded guilty to fraud charges, admitting that he took part in a years-long, multi-million dollar tax-evasion scheme along with other financial deceptions involving the theft of public money, prosecutors said.“People who cheat on their taxes are cheating all honest taxpayers,” said U.S. Attorney Robert Brewer. “We will not tolerate the exploitation of non-profit and religious organizations to line the perpetrators’ pockets at society’s expense.” 1448

President Donald Trump railed Tuesday against billionaire conservative brothers Charles and David Koch, accusing them of being against key components of his populist agenda and suggesting they're irrelevant in today's Republican Party.Trump's public attack, following a weekend in which he was criticized at a Koch network summer meeting, comes amid speculation that the Koch brothers are reconsidering their typically full-throated support for Republican candidates during the midterm elections."The globalist Koch Brothers, who have become a total joke in real Republican circles, are against Strong Borders and Powerful Trade. I never sought their support because I don't need their money or bad ideas," Trump tweeted Tuesday morning. "They love my Tax & Regulation Cuts, Judicial picks & more."In a separate tweet, Trump argued that he "made them richer" and that the Koch network "is highly overrated." 923

PORT-AU-PRINCE, Haiti (AP) — Tropical Storm Marco is swirling over the Gulf of Mexico heading for a possible hit on the Louisiana coast as a hurricane Monday. Meanwhile, Tropical Storm Laura has knocked utilities out as it batters Hispaniola, following a track forecast to take it to the same part of the U.S. coast later in the week, also as a hurricane. It would be the first time two hurricanes appear in the Gulf of Mexico simultaneously, according to records dating to at least 1900.On Saturday, the storms dumped rain on Puerto Rico and Hispaniola, while the other swept into the gulf through the gap between Cuba and Mexico's Yucatan Peninsula.A hurricane watch has been issued for the New Orleans metro area, which Hurricane Katrina pummeled in August 2005. 773

President Donald Trump said Wednesday he regretted choosing Jeff Sessions as attorney general, a continuation of the President's frustrations over Sessions' decision to recuse himself from the Russia investigation.Quoting Rep. Trey Gowdy, R-South Carolina, who noted on CBS earlier Wednesday that Trump "could have picked somebody else" for the position, Trump tweeted, "I wish I did!"Gowdy was responding to a question about whether Trump may have obstructed justice in reportedly asking Sessions in March 2017 to reverse his decision

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