On Monday, September 24 the Trump Administration began implementing tariffs on a list of products announced on September 17. This latest set of tariffs are set at 10 percent on $200 billion worth of imports from China. These tariffs come on top of the $50 billion worth of tariffs already imposed earlier this year, meaning nearly half of all Chinese imports into the United States will soon face levies. The tariffs will remain at 10 percent until the end of the year, and if China does not make adequate concessions, these 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.
In response, the Chinese government announced retaliatory tariffs of 5 to 10 percent on $60 billion of imports from the United States. Items effected range from meat to wheat to aircraft and took effect on September 24.
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