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UPDATE: U.S. Readies New 15% Tariffs on China Goods
The Trump administration says it will begin collecting a 15% tariff on $300 billion worth of Chinese products in a two-step process that starts this weekend.
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The Trump administration says it will begin collecting a 15% tariff on $300 billion worth of Chinese products in a two-step process that will begin on Sept. 1.
The 15% tariff replaces the 10% tax President Donald Trump originally threatened to impose. He raised the amount a month ago in frustration over the slow pace of progress in trade talks between China and the U.S.
The U.S. already levies a 25% tariff on a separate list of $250 billion worth of Chinese goods. The White House plans to increase that tax to 30% on Oct. 1.
The new levies that start on Sunday will expand U.S. tariffs to cover virtually everything China ships to the U.S.
The initial group of about $110 billion items ranges from apparel and footwear to smartwatches and flat-screen television sets, according to the Office of the U.S. Trade Representative. Other goods on the list, including toys and laptop computers, will be hit with the tax on Dec. 15.
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