Breaking News: US to impose $200 billion in tariffs on China from September 24th
The United States is set to impose another raft of tariffs on China, targeting roughly $200 billion USD in imported goods from China as US President Trump tail-chases his way into an even deeper trade war with the Asian superpower.
Key highlights (via Reuters)
Trump administration to impose tariffs on approximately $200 billion USD worth of imports from China effective Sept. 24.
Tariff rate on $200 bln list will start at 10%, go up to 25% at end of year.
Smart watches, bluetooth devices removed from tariff list; bicycle helmets, baby car seats, safety gear also excluded.
Chinese chemical inputs for manufacturing and textiles and agriculture eliminated from tariff list.
Trump administration remains open to negotiations with China, but no details on talks available.
Trump administration is seeking systemic changes from China which Beijing has failed to do.
Trump administration does not want to constrain China's growth, development.
USTR has removed about 300 product categories from tariff list and has cut some subsets of products, but total value still "approximately $200 billion".
USTR will keep many internet router products from 85176200 tariff code on China tariff list, will eliminate some consumer products.
Trump will "immediately" pursue another $267 billion in tariffs if China retaliates.
Author
FXStreet Team
FXStreet
