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US Announces To Impose New Tariffs On Chinese Goods

Washington (September 18, 2018): The United States has announced to impose new tariffs on $200bn worth of Chinese goods.  

According to the details, the United States will impose a 10% tariff later this month on $200 billion worth of Chinese goods, increasing to 25% at the end of the year, the Trump administration announced Monday.The additional tariffs are on top of penalties enacted earlier this year on $50 billion worth of Chinese goods. Taken together, it means roughly half of the products that China sells to the United States each year will be hit by American tariffs.

In July, the administration published a list of thousands of products that would be subject to the latest round of trade penalties. More than 300 products were removed from that list — including smartwatches, health and safety devices and children’s playpens.Trump had urged his advisers to press forward with the $200 billion round, even as Washington and Beijing worked to restart trade talks. Trump’s decision threatens to upend the possibility of a diplomatic breakthrough with Chinese negotiators.

 

“China has had many opportunities to fully address our concerns,” Trump said in a statement released Monday evening by the White House. “Once again, I urge China’s leaders to take swift action to end their country’s unfair trade practices.”

Trump also threatened to inflict more economic pain in the form of additional tariffs if Beijing takes any retaliatory action.

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