On Monday, September 17 President Trump announced the imposition of 10 percent tariffs on $200 billion worth of imports from China. These tariffs come on top of the $50 billion worth already imposed earlier this year, meaning nearly half of all Chinese imports into the United States will soon face levies. The tariffs will go into effect on September 24 and will remain at 10 percent until the end of the year. If China does not make adequate concessions, the new tariffs will then increase to 25 percent on January 1, 2019.

The United States Trade Representative (USTR) published a list of the wide range of products that will be affected.

Later on September 17, China retaliated with tariffs of 5 to 10 percent on $60 billion of imports from the United States. China’s retaliatory tariffs, on items ranging from meat to wheat to aircraft, are also set to take effect on September 24.