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posted by janrinok on Thursday September 05 2019, @04:49PM   Printer-friendly
from the start-counting-the-pennies,-er,-yen dept.

Submitted via IRC for Bytram

Trump's 15 percent tariff on Chinese goods kicks in

It's the first day of September, marked by a new round of tariffs on Chinese imports, which went into effect Sunday. In latest escalation of the trade war with China, the Trump administration has slapped a 15% tariff on $112 billion worth of Chinese goods (PDF), something consumers can expect to feel when buying everything from milk to diapers to some China-manufactured tech products like the Apple Watch.

But on Aug. 13, the USTR said it would offer a temporary reprieve to a batch of about $160 billion products (PDF) like laptops and cellphones. Those goods won't be subject to the new tariffs until Dec. 15 -- an attempt to blunt the impact of the duties on the holiday shopping season. Trump later raised the new tariff on Chinese goods to a 15% rate rather than the initial 10%.

China retaliated Sunday with its own tariff plan taking effect at 12:01 p.m. local time. It's rolling out higher tariffs in stages on a total of about $75 billion in US goods like soybeans and crude oil. It'll also resume an extra 25% duty on cars imported from the US on Dec. 15.


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  • (Score: 0) by Anonymous Coward on Thursday September 05 2019, @08:23PM

    by Anonymous Coward on Thursday September 05 2019, @08:23PM (#890226)

    My god man, if you don't see a thriving economy right now they you never will.

    Employment rate: 60.7% [tradingeconomics.com] - thriving economy, my ass.