Make tariffs great again: U.S. tariffs on $112 billion on Chinese goods in effect from today
Topics: U.S. CHINA TARIFFS
This is potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer goods in advance of the holiday shopping season.
The 15% taxes apply to about $112 billion of Chinese imports. All told, more than two-thirds of the consumer goods the United States imports from China now face higher taxes. The administration had largely avoided hitting consumer items in its earlier rounds of tariff hikes.
After Sunday’s tariff hike, 87% of textiles and clothing from China and 52% of shoes will be subject to import taxes.
Beijing responded by levying five percent tariffs on U.S. oil and 10 percent duties on a range of other American products. ■