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Fresh month, fresh tariffs imposed on China by US

US CHINA Box
US CHINA Chess
It’s September’s first day, marked by a fresh round of Chinese import tariffs that came into effect on Sunday. In the recent escalation of the trade war with China, the Trump administration has placed a tariff of 15 percent on Chinese goods worth $112 billion, something customers can expect to feel when purchasing everything from milk to diapers to some China-made tech products like the Apple Watch.

President Donald Trump started his push for an electronic goods tariff last November in China. A list of products to recieve a 10 percent tariff, including phones, laptops and game consoles, was announced by the US Trade Representative in May.

But on Aug. 13, the USTR said it would give a temporary relief to a $160 billion batch of goods like laptops and cell phones. These products will not be subject to the fresh tariffs until Dec. 15— an attempt to ease the holiday shopping season. Trump subsequently raised the new Chinese goods tariff to a rate of 15% rather than the original 10%.

US CHINA trade war
China retaliated on Sunday at 12:01 p.m. with its own tariff scheme. Local time. US products such as soybeans and crude oil, it rolls out greater tariffs in phases on a total of about $75 billion. It will also resume an additional 25% obligation on vehicles imported on Dec. 15 from the US.

There is some hope for tariff peace: talks between Chinese and American trade negotiators are still planned this month, Trump said to journalists on Friday before heading to the presidential retreat at Camp David. But he kept his determination to continue the trade war. “We will win the battle,” he said.

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