New Tariffs on China Will Translate to More Taxes on Americans

The Daily Signal | 8/9/2019 | Staff
jster97 (Posted by) Level 3
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Riley Walters is a policy analyst in the Davis Institute for National Security and Foreign Policy at The Heritage Foundation.

President Donald Trump last week announced he would place new tariffs—a 10% additional tax—on $300 billion worth of products Americans import from China.

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Starting Sept. 1, nearly every product from China will cost more because of those tariffs. Roughly 20% of U.S. imports come from China.

The Trump administration started applying tariffs on imports from China a little more than a year ago, in July 2018. Trump’s announcement Aug. 1 on Twitter is just one of several new taxes the administration has increased as a part of trade negotiations with China.

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The announcement included products you’d find while back-to-school shopping or during Black Friday, such as apparel, footwear, toys, household appliances, furniture, school materials, electronics, infant formula, baby pacifiers, musical instruments, and more.

That’s a noticeably different basket of goods from previous products the Trump administration has taxed from China, including intermediate and industrial goods.

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The announcement also comes just a month after Trump met with Chinese President Xi Jinping at the Group of 20 summit in Japan to ease trade tension, days after his negotiating team left for Shanghai to restart trade talks, and a day after Fed Chairman Jerome Powell announced an interest rate cut, citing rising trade uncertainty.

It’s clear that negotiations between the U.S. and China remain tense, and Trump has suggested he could raise the tax on $300 billion worth of goods even further,...
(Excerpt) Read more at: The Daily Signal
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