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President Trump to Levy Additional Tariffs on Chinese Imports
President Trump recently announced via
that he plans to levy additional tariffs against China by imposing a 10 percent tariff on $300 billion worth of Chinese imports not previously tariffed. The tariffs will take effect on September 1, 2019, and will cover products including clothes, toys, electronics, and the remaining HVACR products. Through tweets, Trump said that China has failed to deliver on promises to buy more US agricultural goods and to stop the flow of fentanyl into the US. This new tariff does not include the $250 billion already tariffed at 25 percent. Trump called the most recent round of talks “constructive” despite announcing escalated tariffs. He tweeted, “We look forward to continuing our positive dialogue with China on a comprehensive Trade Deal, and feel that the future between our two countries will be a very bright one!”
Trade negotiations are expected to continue in Washington in September. Chinese negotiators have said they are not deterred by the new tariffs and that the country will hold off on buying additional US agricultural products until all tariffs are removed.
We will continue to keep you updated as trade negotiations advance. (Standard Supply)08-02-19