News
On August 1st , U.S. President Donald Trump tweeted that starting September 1st the remaining USD 300 bn worth of goods originating in China will be tariffed at 10% (which do not include the other USD 250 bn worth of goods already tariffed at 25%).
Trump said that pursuant to the previous rounds of trade talks with Chinese representatives, China agreed to buy “large quantities” of U.S. agricultural products and stop export of an opioid Fentanyl to the U.S., but it never happened. As a result, the 10% tariff will officially come into force starting September 1st. Products involved in the list subject to the new 10% tariff will include many consumer goods such as mobile phones, computers, clothes, toys, and shoes. President Trump even threatened to further increase the tariff to 25% or higher until the trade deal has been satisfactorily achieved.
