Following Beijing’s retaliatory tariffs on $75 billion of US goods the United States-China trade war escalated further last Friday, with President Donald Trump announcing an increase in existing tariffs from 1 October and new tariffs to be introduced on 1 September and 15 December.
Trump, via Twitter, said late Friday that $250 billion of Chinese goods currently being taxed at 25 percent would increase to 30 percent as of 1 October.
In May a 10 percent tariff on an additional $300 billion of imports was announced and due to go into effect 1 September. This now being raised to 15 percent.
Some products that were to have the 10 percent tariff applied on 1 September were delayed until 15 December when they will also have the 15 percent applied. Products in this group include, cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing.
We will continue to monitor developments and keep you informed. In the meantime, please contact your account manager or customer service representative for additional information.