Technology: Trump adds tariffs to $550 billion of Chinese imports in trade war reprisal - PressFrom - US

TechnologyTrump adds tariffs to $550 billion of Chinese imports in trade war reprisal

03:40  24 august  2019
03:40  24 august  2019 Source:

Trump says renewed trade talks with China are 'already underway'

Trump says renewed trade talks with China are 'already underway' Trump and Xi had agreed during a bilateral meeting at the summit in Osaka, Japan, to hold off on imposing new tariffs on each other's goods.

He added that another billion of tariffs on Chinese goods could follow in “two weeks,” and that his administration was ready to go with additional tariffs of 0 billion and 0 billion . In total, these levies could eventually effect $ 550 billion in Chinese imports . Presumably, whether these measures

# Trump raises stakes in trade war with China , targets further 0bn-worth of imports with tariff https US President Donald Trump told reporters on Thursday that US tariffs on an additional That would bring the total of targeted Chinese goods to potentially $ 550 billion which is more than

President Trump announced Friday on Twitter that tariffs on Chinese imports will increase 5 percentage points in a tit-for-tat response to China's own plans to place new duties on U.S. goods.

About $250 billion of goods produced by China and imported into the U.S. already have a 25% tariff. This newest increase will push tariffs to 30% beginning October 1, 2019. Trump also increased "List 4" tariffs from 10% to 15%. The List 4 tariff, which affects the remaining $300 billion of Chinese imports, will go into effect September 1 and December 15.

The increase in tariffs on Chinese imports follows news earlier Friday that China will impose $75 billion worth of duties on U.S. goods, beginning Sept. 1 and December 15. China’s foreign ministry said that it would resume tariffs on U.S. imports of automobiles and auto parts and place an additional 5% or 10% tariff on agricultural and food products like soybeans, coffee, whiskey and seafood.

U.S. automakers Ford, GM, Fiat Chrysler Automobiles and Tesla all saw shares fall in response to China's new tariffs. Agricultural product companies, the textile industry as well as automakers that build vehicles in the U.S. for export to China will take the brunt of China's newest tariffs. The move could force these companies to raise prices, which could further dampen sales.

Trump delays laptop and smartphone tariffs until December

Trump delays laptop and smartphone tariffs until December The administration said it was delaying implementation

The Office of U.S. Trade Representative is taking the necessary steps to slap tariffs on the remaining billions of dollars worth of Chinese goods coming into President Donald Trump tweeted on Monday that China will be "hurt very badly if you don't make a trade deal. " Trump also said that China had a

Dow plunges more than 550 points as Trump - China trade war threats escalate. The White House said in a statement Thursday night that Trump was considering adding tariffs on 0 billion more in Chinese goods annually. Trump earlier this week proposed tariffs on billion in goods, raising

The president's initial response on Twitter to China's decision sent the market into a tailspin. The Dow Jones Industrial Average fall by as much as 700 points before closing the day slightly down only 623 points at 25,628.60. The S&P 500 Index fell 75.84 points to end the day at 2,847.11 and the Nasdaq dropped 239.62 points to close at 7,751.77.

Trump's tariffs announcement came after markets closed Friday.

Apple products under pricing pressure as new 15% tariffs drop Sunday.
A new 15% tariff on Chinese imports will go in effect just after midnight Sunday, placing levies on hundreds of household goods and consumer tech, including a bevy of Apple products. The tariffs, put in place by President Donald Trump as part of an escalating tit-for-tat trade war with China, were entered into the Federal Register on Friday. Apple, the largest U.S. technology company by market cap, has its products assembled in China by Foxconn and then ships them to consumers all over the world. The Apple Airpods, Apple Watch and accompanying Apple Watch bands and the Apple Homepod are all products subject to the higher tariffs beginning Sunday.

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