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.
(Score: 4, Insightful) by PartTimeZombie on Thursday September 05 2019, @08:24PM (3 children)
Yeah, kind of. [politico.com] Except the Japanese have not really agreed to what Trump has said they did.
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.
(Score: 2) by c0lo on Friday September 06 2019, @02:15AM (2 children)
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)
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
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