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Trump Administration Announces Another $200 Billion in China Tariffs

Trump Administration Announces Another $200 Billion in China Tariffs

7/11/2018 8:05:00 AM/Categories: Popular Posts, General News, Today's Top 5, People in Ag, Livestock, Grains, National News, International

The White House on Tuesday said it would assess 10% tariffs on a further $200 billion in Chinese goods, but they won't take effect for at least two months, giving time for public comment.

The new round of tariffs comes on top of two others ($34 billion which went into effect Friday and another $16 billion to follow). President Trump’s latest action will hit consumer products such as televisions, clothing, bedsheets and air conditioners, which were spared from the first import levies on Friday. Tuesday’s announcement included a 205-page public notice and list of the individual products that could be hit by the new 10% tariffs.

President Trump asked the U.S. Trade Representative (USTR) on June 18 to consider an additional $200 billion in tariffs after China said it would pursue retaliation if the U.S. made good on its threat of duties on Chinese imports.

USTR said Tuesday it will hold public hearings August 20-23 on the products and goods it proposes to impose tariffs on. A final decision on the tariffs will be made after August 30.

China reacted angrily, calling the move a “totally unacceptable” escalation and vowing to roll out unspecified countermeasures.

 

DTN's Washington Insider

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