The United States Will Impose A 10% Tariff On Some Chinese Goods
On September 17, US local time, the United States Trade Representative (USTR) announced that it will start on September 24th:
Adding tariffs on Chinese imports worth US$200 billion;
The initial tariff rate currently drafted is 10%.
But starting in 2019, the tax rate for additional tariffs will increase to 25%!
President Trump also said, “If China takes countermeasures against American farmers or other industries, the United States will add a tariff list of 267 billion US dollars of Chinese products!”
Finalized taxation project is 5745 items
The USTR’s tax collection list was adjusted on the list of US$200 billion in Chinese import goods plus tax added on July 10 this year.
Of the tax collections issued in July, $8.4 billion involved plastics, $64.8 billion in electronic machine products, $55.1 billion in household appliances and $25.8 billion in home and various seafood meat products.
The USTR said that according to the six-week investigation and evidence collection conducted by the 301 investigation committee and the six-day hearing held in August, 297 tax collection projects were deleted, from the original 6031 tax collection projects to 5,745 taxation projects.
These deleted items include smart watches, Bluetooth devices; chemicals used to produce finished products, textiles and agriculture; and health and safety products such as bicycle helmets, child safety seats, child safety fences, and more.
However, after USTR issued an official announcement to add 200 billion US dollars of Chinese goods, representatives of some industry associations in the United States said that this practice of adding tariffs would only distort the nature of trade and affect the competitiveness of American products.