U.S. To Apply 10 Percent Tariff On Remaining $300 Billion In Chinese Imports, Beginning September 1
Today on Twitter, President Trump announced that the U.S. would impose a 10-percent tariff on the remaining $300 billion in goods imported from China, beginning September 1. The U.S. currently applies a tariff of 25 percent on $250 billion of imported Chinese goods. This news would mean virtually all products imported from China would be subject to additional tariffs.
A U.S. delegation including Treasury Secretary Mnuchin and Trade Representative Robert Lighthizer met with the Chinese earlier this week, and while the White House on Wednesday described the talks as “constructive,” they concluded without progress on the countries’ trade dispute. During those meetings, China reiterated a commitment to increase imports of U.S. agricultural products. Negotiations are scheduled to continue in Washington, D.C., in early September.
The President’s announcement comes after a meeting this morning with Secretary Mnuchin and Trade Representative Lighthizer. In a series of tweets that included criticisms of the pace of Chinese purchase of agricultural products and its lack of progress on cracking down on the exporting of fentanyl to the U.S., the president said, “Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional tariff of 10 percent on the remaining $300 billion of goods and products coming from China into our country ... We look forward to continuing our positive dialogue with China on a comprehensive trade deal, and feel that the future between our two countries will be a very bright one!”