Tariffs from China and the United States (U.S) took effect on Monday, September 24, 2018 (Reuters). The U.S. government instituted tariffs on $200 billion worth of goods from China and the Chinese government implemented tariffs on $60 billion worth of U.S. products (BBC). The U.S. tariffs affect 6,000 items such has textiles, rice and handbags (BBC). The tariffs impose a 10% tax on U.S. companies transporting Chinese goods to the U.S. and could increase to 25% at the beginning of 2019 (BBC).
A trade deal between the U.S. and China could prevent the increase to a 25% tax (Al Jazeera). However, Chinese officials canceled trade deal negotiations scheduled for later this month (Al Jazeera). According to a paper published by the Chinese government, Chinese officials blames the U.S for “brazenly preached unilateralism, protectionism and economic hegemony” (Xinhua). The Chinese government also stated that the U.S. is, “intimidating other countries through economic measures” (Xinhua).
Tags: China, United States, Tariffs, Trade Negotiations