CORRECTED: Trump seeking tariffs on up to $60 billion Chinese goods; targets tech, telecoms

U.S. President Donald Trump arrives at Marine Corps Air Station Miramar in San Diego, California. U.S., March 13, 2018. REUTERS/Kevin Lamarque · Reuters · Reuters

By David Lawder and Michael Martina

WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump is seeking to impose tariffs on up to $60 billion of Chinese imports and will target the technology and telecommunications sectors, two people who had discussed the issue with the Trump administration said on Tuesday.

A third source who had direct knowledge of the administration's thinking said the tariffs, associated with a "Section 301" intellectual property investigation, under the 1974 U.S. Trade Act begun in August last year, could come "in the very near future".

While the tariffs would be chiefly targeted at information technology, consumer electronics and telecoms, they could be much broader and the list could eventually run to 100 products.

The White House declined to comment on the size or timing of any move.

Washington is targeting Chinese high technology companies to punish them for China's investment policies that effectively force U.S. companies to give up their technology secrets in exchange for being allowed to operate in the country along with other allegations of intellectual property theft.

China runs a $375 billion trade surplus with the United States and when President Xi Jinping's top economic adviser visited Washington recently, the administration pressed him to come up with a way of reducing that number.

Trump came to office on a protectionist agenda and his first action as president was to pull the United States out of the 14-nation Pacific trade pact, known as the Trans-Pacific Partnership (TPP).

He has started talks to renegotiate the North American Free Trade Agreement (NAFTA) and most recently imposed tariffs on steel and aluminium imports.

While the tariffs on steel and aluminium, announced last week by Trump, are viewed as relatively insignificant in terms of imports and exports, moves to target China directly risk a direct and harsh response from Beijing.

The news website Politico earlier reported that the U.S. Trade Representative's office had presented Trump with a package of $30 billion in tariffs last week, but Trump told aides that this wasn't high enough.

One business source who had discussed the issue with the White House said the figure had now grown to about $60 billion, with a potentially wider array of products under consideration.

A second person, who is an industry lobbyist in Washington who is familiar with the administration's thinking said the process was being led by Peter Navarro, an avowed protectionist, who has accused American companies of conniving with the Chinese state, and by U.S. Trade Representative Robert Lighthizer, who also favours tariffs as a tool.