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 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