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Trump Says He’ll Make ‘Announcement’ Today After Market Close
"President Trump threw his biggest punch yet at China, imposing tariffs on an additional $200 billion worth of Chinese imports and gambling that American consumers are willing to pay more for popular products to wring trade concessions from Beijing.
With Monday’s announcement, roughly half of the $505 billion in goods that Americans buy annually from Chinese firms will face new import levies.
Unlike the $50 billion in Chinese products that Trump hit in the first tariff wave in July — which fell mainly on industrial goods — Monday’s action will affect consumer products such as air conditioners, spark plugs, furniture and lamps.
Starting Sept. 24, American importers will pay an extra 10 percent tariff for the affected items, rising to 25 percent at the end of the year, according to senior administration officials, who briefed reporters on the condition that they not be identified by name."
"WASHINGTON—The Trump administration will impose tariffs on about $200 billion in Chinese goods as part of its campaign to pressure Beijing to change its commercial practices, it said Monday, escalating trade tensions between the world’s two largest economies.
The 10% tax on Chinese imports will take effect on Sept. 24 and will rise to 25% at the end of the year, according to administration officials. The tariffs will affect thousands of goods ranging from luggage to seafood, extending the impact of Mr. Trump’s aggressive tariff policy for the first time to a broad population of American consumers."
Comments
"President Trump threw his biggest punch yet at China, imposing tariffs on an additional $200 billion worth of Chinese imports and gambling that American consumers are willing to pay more for popular products to wring trade concessions from Beijing.
With Monday’s announcement, roughly half of the $505 billion in goods that Americans buy annually from Chinese firms will face new import levies.
Unlike the $50 billion in Chinese products that Trump hit in the first tariff wave in July — which fell mainly on industrial goods — Monday’s action will affect consumer products such as air conditioners, spark plugs, furniture and lamps.
Starting Sept. 24, American importers will pay an extra 10 percent tariff for the affected items, rising to 25 percent at the end of the year, according to senior administration officials, who briefed reporters on the condition that they not be identified by name."
"WASHINGTON—The Trump administration will impose tariffs on about $200 billion in Chinese goods as part of its campaign to pressure Beijing to change its commercial practices, it said Monday, escalating trade tensions between the world’s two largest economies.
The 10% tax on Chinese imports will take effect on Sept. 24 and will rise to 25% at the end of the year, according to administration officials. The tariffs will affect thousands of goods ranging from luggage to seafood, extending the impact of Mr. Trump’s aggressive tariff policy for the first time to a broad population of American consumers."
BBC:
Some other items, The higher import taxes will apply to more than 5,000 items, marking the biggest round of US tariffs so far.
Handbags, rice, and textiles will be included, but some items expected to be targeted such as smart watches and play pens have been excluded.