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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: 4, Insightful) by PartTimeZombie on Thursday September 05 2019, @08:24PM (3 children)

    by PartTimeZombie (4827) on Thursday September 05 2019, @08:24PM (#890227)

    ...Trump made a trade deal with Japan's Prime Minister Abe...

    Yeah, kind of. [politico.com] Except the Japanese have not really agreed to what Trump has said they did.

    ...he's a shrewd businessman.

    No he's not. He's an idiot who does not understand any of this at all. He ruined a key export market for America's farmers, then panicked.

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  • (Score: 2) by c0lo on Friday September 06 2019, @02:15AM (2 children)

    by c0lo (156) Subscriber Badge on Friday September 06 2019, @02:15AM (#890354) Journal

    Except the Japanese have not really agreed to what Trump has said they did.

    I like the difference. I mean, it really puts into evidence that "principles" != "reality"
    (as in "agreement in principle" != "really agreed" - grin)

    --
    https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
    • (Score: 2) by PartTimeZombie on Friday September 06 2019, @02:50AM (1 child)

      by PartTimeZombie (4827) on Friday September 06 2019, @02:50AM (#890365)

      I took that quote from the Japanese PM to mean "Let's just see how desperate you get".

      I mean, come on, look at who he's negotiating with.

      • (Score: 3, Insightful) by c0lo on Friday September 06 2019, @03:03AM

        by c0lo (156) Subscriber Badge on Friday September 06 2019, @03:03AM (#890367) Journal

        Apparently, not desperate enough to drop the tariffs on cars and auto parts. At least, not yet.
        But, hey, you know? Corn doesn't last in storage as much as a hunk of steel, 6 months of delay makes quite a difference when your goods are perishable; even more so when you rely on the money from your previous crop to work for the next one.

        --
        https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford