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: 2) by Runaway1956 on Friday September 06 2019, @12:36AM
Debt? Almost no one in the US cares about the debt. Only a few of us crazy people ever even think about it. In point of fact, every single president who has held office since I was born has increased the national debt, not by some slim margin, but by doubling and tripling. The US gave up caring about debt sometime during or soon after the Second World War. There are those who work hard to convince us that debt is a "good thing". That is pretty much every parasite who profits from America being in debt, starting with the Federal Reserve.