The products will be taxed at about 10%, according to the Wall Street Journal, which revealed the information, while the US administration had spoken about 25% originally.
These new duties will be imposed on Internet technology products and other electronic devices, as well as on printed circuit boards. Many consumer goods will also be affected, such as seafood, furniture and lighting, tires, chemicals, plastics, bicycles and baby car seats.
- These new customs duties would apply to goods valued at $200 billion;
- The products would be taxed at 10%, instead of 25% provided;
Presidential spokeswoman Lindsay Walters said Friday that Donald Trump “has made it clear that his administration will continue to act against China’s unfair trade practices.”
“We encourage China to respond to the long-standing concerns of the United States,” she added.
According to sources familiar with the matter, the president had already asked his teams to prepare the introduction of these new customs duties.
Secretary of the Treasury Steven Mnuchin, however, this week invited several senior Chinese officials, including Deputy Prime Minister Liu He, to continue trade negotiations with Beijing to try to resolve trade disputes between the two countries. These additional fees could complicate the negotiations scheduled for this month.
Trump wants China to reduce its trade surplus with the US, which is $375 billion; to put an end to its policy of acquiring US technology and intellectual property; and reduce its subsidies to the high-tech sector.
The US administration has already imposed tariffs on Chinese products worth $50 billion following a study published this year on China’s intellectual property practices.
On Sept. 7, Donald Trump warned that he had $267 billion in tariffs on Chinese imports.
According to data from the US Census Bureau, imports from China increased by almost 9% over the period January-July 2018 compared to the same period of 2017.
Chase Miller is the lead editor for Valley Ppost Express. Chase has written for several online publications including the Huffington Post, Vanity Fair and Bleacher Report. Chase is based in Los Angeles and covers issues affecting California. When he’s not busy writing, Chase enjoys traveling and hiking.