Washington – The Trump administration is imposing tariffs on $200 billion more in Chinese goods starting next week, escalating a trade war between the world’s two biggest economies and raising prices on consumer goods ranging from handbags to bicycle tires.
Subscribe to our Daily Roundup Email
The tariffs will start at 10 percent and rise to 25 percent starting Jan. 1.
President Donald Trump decided to begin taxing the imports — equal to nearly 40 percent of goods China sold the United States last year — after a public comment period. China has said it’s ready to impose retaliatory tariffs on U.S. goods.
The U.S. had already imposed tariffs on $50 billion in Chinese imports.
Trump initiated the fight to punish Beijing for what he says are China’s predatory tactics to try to supplant U.S. technological supremacy.
“Tariffs” Nice fancy smency name for TAX INCREASE. We the People will pay money Taxes/Tariffs) for the Trump Government basically for all the goods we are buying. Shirts,Skirts,Dresses,Shoes etc. This is in addition of the Tax Increase for New Yorkers who own homes etc. Most of the new Taxes ( Tariffs) will be paid by the poor and middle Class since we spend much higher % of our income on bare necessities than the billionaires who buy the Yachts (No new Tariffs/Taxes on yachts)
I hope that Archie and his fellow Trump supporters are prepared to pay more for consumer goods.
It takes months? 10% Trump/tax is effective today. Jan 1 it goes to 25% tax. Nice try, Gasoline is up since Trump more than 30% so far.