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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: 2) by c0lo on Thursday September 05 2019, @08:31PM (2 children)

    by c0lo (156) Subscriber Badge on Thursday September 05 2019, @08:31PM (#890235) Journal

    The fact is that during the 8 years under Obama, the US lost jobs month over month and $8 trillion (with a T) was added to the national debt.

    1. employment rate since 2012 showed steady increase [tradingeconomics.com] after the drop caused by GFC (switch to 10y view) And it wasn't Obama that caused the GFC.
    2. those trillions? Remember the 'too big too fail'? That's where your future tax money went, to American corporations.

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    https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
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  • (Score: 3, Insightful) by The Shire on Thursday September 05 2019, @10:17PM (1 child)

    by The Shire (5824) on Thursday September 05 2019, @10:17PM (#890270)

    Remember the 'too big too fail'?

    And for years we waited for the Obama administration to prosecute those assholes. Remember how that turned out?

    • (Score: 4, Touché) by c0lo on Thursday September 05 2019, @11:22PM

      by c0lo (156) Subscriber Badge on Thursday September 05 2019, @11:22PM (#890287) Journal

      Remind me what Trump is doing in this regard?
      The last I know, Obama rescued them and Trump rewarded them with tax cuts.
      But maybe you have more positive news now?

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