Trump adds tariffs to $550 billion of Chinese imports in trade war reprisal

TechCrunch | 8/23/2019 | Staff
roxy2707 (Posted by) Level 3
Click For Photo: https://techcrunch.com/wp-content/uploads/2017/01/gettyimages-534236170.jpg?w=599













President Trump announced Friday on Twitter that tariffs on Chinese imports will increase 5 percentage points in a ****-for-tat response to China’s own plans to place new duties on U.S. goods.

About $250 billion of goods produced by China and imported into the U.S. already have a 25% tariff. This newest increase will push tariffs to 30% beginning October 1, 2019. Trump also increased “List 4” tariffs from 10% to 15%. The List 4 tariff, which affects the remaining $300 billion of Chinese imports, will go into effect September 1 and December 15.

Increase - Tariffs - Imports - News - Friday

The increase in tariffs on Chinese imports follows news earlier Friday that China will impose $75 billion worth of duties on U.S. goods, beginning Sept. 1 and December 15. China’s foreign ministry said that it would resume tariffs on U.S. imports of automobiles and auto parts and place an additional 5% or 10% tariff on agricultural and food products like soybeans, coffee, whiskey and seafood.

U.S. automakers Ford,...
(Excerpt) Read more at: TechCrunch
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!