The Trump administration has finalized its second set of tariffs against China, marking the latest move in an escalating trade war between two of the world’s leading economies.
According to the Office of the U.S. Trade Representative, approximately $16 billion worth of Chinese imports will be subject to levies of 25 percent — more than double the 10 percent initially threatened by President Donald Trump.
The list, which contains 279 of the original 284 tariff lines announced on June 15, primarily impacts industrial products. Although it doesn’t include footwear, select handbags, travel products and other accessories are among the affected items.
Customs and Border Protection officials will begin collecting the additional duties on Aug. 23.
On Sunday, Trump took to Twitter to defend his trade policy. “Tariffs are working big time,” he wrote. “Every country on earth wants to take wealth out of the U.S., always to our detriment. I say, as they come,Tax them. If they don’t want to be taxed, let them make or build the product in the U.S. In either event, it means jobs and great wealth…..”
Tariffs are working big time. Every country on earth wants to take wealth out of the U.S., always to our detriment. I say, as they