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: 0) by Anonymous Coward on Thursday September 05 2019, @09:19PM
Poor widdle Twumpie wants to make America great again!
So the best thing Twumpie can think of is to raise pwices of domestic goods by inserting Tawiffs, thinking this will bwing back good manufacturing to America. Doesn't matter that American small businesses have said this is hurting them. [businessinsider.com] Doesn't matter that you can name these companies directly. [cato.org] Doesn't matter that Americans have to pay higher prices for goods [latimes.com]. Twumpie keeps hanging on to his illusion that he can magically roll back international trade. Twumpie thinks he can "order" American businesses to do his bidding, no matter what they feel is right, just like the best dictators of the worst countries. Then he doubles down on his stupidity. [reuters.com] Doesn't matter if the businesses cannot bring these kinds of manufacturing back, [npr.org] or that doing so permanently raises those prices to unsustainable levels.
And only his base actually believes his saying this is helping America.
Poor deluded Twumpie!