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[size=36]America begins to charge higher fees on Chinese goods[/size]
Economy | 10:43 - 01/06/2019
Mawazine News -
The United States began charging higher customs duties of 25 percent on many Chinese goods that reached US ports on Saturday morning to intensify the trade war between the world's two largest economies, leading to China imposing retaliatory tariffs.
US President Donald Trump imposed a $ 200 billion increase in tariffs on a list of Chinese goods on May 10, but agreed to a grace period for sea-borne goods that left China before that date to apply 10 percent earlier.
On May 15, the US Trade Representative's office set June 1 as the deadline for these goods, which reach the United States, after which the US Customs and Border Protection Authority (CPA) collects 25 percent of US ports. The deadline expired at 12:01 EST on Saturday.
The tariff increase includes a large range of consumer goods and intermediate components from China, including Internet servers, furniture, vacuum cleaners and lighting products. China began earlier on Saturday to charge higher reprisals for most goods on a target list of US goods worth $ 60 billion. The tariffs were announced on May 13 and came into force at midnight in Beijing (1600 GMT) and impose an additional 20 percent or 25 percent surcharge on more than half of 5140 US products targeted. China had imposed an additional charge of 5 percent or 10 percent on target goods
The United States began charging higher customs duties of 25 percent on many Chinese goods that reached US ports on Saturday morning to intensify the trade war between the world's two largest economies, leading to China imposing retaliatory tariffs.
US President Donald Trump imposed a $ 200 billion increase in tariffs on a list of Chinese goods on May 10, but agreed to a grace period for sea-borne goods that left China before that date to apply 10 percent earlier.
On May 15, the US Trade Representative's office set June 1 as the deadline for these goods, which reach the United States, after which the US Customs and Border Protection Authority (CPA) collects 25 percent of US ports. The deadline expired at 12:01 EST on Saturday.
The tariff increase includes a large range of consumer goods and intermediate components from China, including Internet servers, furniture, vacuum cleaners and lighting products. China began earlier on Saturday to charge higher reprisals for most goods on a target list of US goods worth $ 60 billion. The tariffs were announced on May 13 and came into force at midnight in Beijing (1600 GMT) and impose an additional 20 percent or 25 percent surcharge on more than half of 5140 US products targeted. China had imposed an additional charge of 5 percent or 10 percent on target goods
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