China Announces Tariff Retaliation to Take Effect on June 1

May 13, 2019 07:37 AM
 
China announced that it will impose additional tariffs on some American goods in retaliation for the latest increase of U.S. duties on $200 billion of Chinese imports.

(Bloomberg) -- China announced that it will impose additional tariffs on some American goods in retaliation for the latest increase of U.S. duties on $200 billion of Chinese imports.

The tariffs will take effect on June 1, according to a statement on the Ministry of Finance’s website on Monday. The tariffs will be imposed on some of the goods listed on a previous retaliation list from 2018. The delayed start leaves open a window for negotiations to continue on a trade agreement.

The yearlong trade frictions between the world’s two biggest economies re-escalated last week when the Trump administration announced a 25% punitive tariff on thousands of Chinese products. The U.S. is set to release a plan to levy a 25% additional tariff on all remaining imports from China on Monday.

The Chinese retaliatory tariffs will be imposed at different levels:

  • 25% tariffs on 2,493 items
  • 20% tariffs on 1,078 items
  • 10% tariffs on 974 items
  • 5% tariffs to continue on 595 items

 

©2019 Bloomberg L.P.

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dave
uptown, IN
5/13/2019 09:18 AM
 

  Well, Chuck, that sure was not a president we could respect. Remember, he did everything he could to degrade the US, including all his trips to foreign countries, where he tore down the US. And you think we are suppose to respect him for that? Haaa! Hardly!! You talk about a liberal do nothing constructive president. Obama sure fit the bill perfectly. All we got was more government interference in our business and more hyperinflation with an out of control monetary policy that did nothing to rebound the economy. Do you not remember, Chuck, that those crop prices were a result of drought and foreign countries pent up demand. Had nothing to do with Obammee.

 
 
PJ Jahn
Ptown, IL
5/13/2019 09:36 AM
 

  LMAO as dave, and Rick proud display their lack of intelligence, and unable to be truthful!

 
 
dave
uptown, IN
5/13/2019 10:54 AM
 

  Well, Chuck & PJ Yahn, where do either of you show your intelliegence? Say what you mean, rather than eluding to something. I stated facts. You dems obviously cannot accept it. All you do is tear anyone apart that does not agree with your opinion, an opinion that obviously states no facts. I was taught, which includes, an Ivy League education, to discover the unbiased facts. '12 crop prices were significantly better than '07/'08. Don't believe it, research it. Do I agree with everything trump does? No way. Especially the USMCA. The China fleecing is something that should have been tackled a couple decades ago. But who had the guts to do it? No one until now. And, I, too, feel the resulting pain. Just like you. But it is not the first time agriculture has been caught in the cross fire of a trade war.

 
 
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