China Reply To US New Tariffs

by | Sep 19, 2018

This week America imposed new tariffs on $200 billion worth of imports from China, reigniting a trade war between the two nations, which has resulted in China announcing $60 billion worth of tariffs on US products today.

The US tariffs confirmed on Monday were the biggest so far, and will apply to almost 6,000 items, including handbags, rice and textiles. Items such as smart watches and high chairs, which were expected to be targeted, have surprisingly been ignored.

The Chinese commerce ministry said that it had no choice but to retaliate and that it hoped the US would correct its behaviour. Shortly afterwards they announced their own tariff adjustments, which included products such as liquefied natural gas, produced in states loyal to Trump.

Unless the two countries come agreement, the US taxes will take effect on 24th September, starting at 10% and increasing to 25% from the beginning of next year.

This is not the first time this year that the US has put tariffs on Chinese products. Last month, the trade war intensified when the US brought in a 25% tax on goods worth $16bn.

This latest round of tariffs means that around half of all Chinese imports to the US are now subject to new duties.

To find out more about how Customs Insights can provide you with a competitive edge in your supply chain, then please call 01304 211652 or email enquiries@customsinsights.co.uk.

 

Follow Us:

Consultancy Services

Ensure compliance, resolve difficulties, manage efficiencies and reduce duty.

CFSP Bureau Services

Customs Freight Simplified Procedures, a simplified electronic paperless gateway.

More News…..

Theresa May Resigns Over Brexit

UK prime minister - Theresa May – has confirmed her resignation today following months of turmoil over Brexit. She confirmed she will quit as leader of the conservatives on 7th June and remain as prime minister until a new leader is elected.In today’s statement, she...

Talks Break Down Over Customs Union

According to latest news, the cross party Brexit talks between the Conservative and Labour parties have failed to find a compromise and are now set to end without an agreement in place.Leaving the EU with a Customs Union agreement seems to have been central to the...

What Is The Customs Union?

According to recent reports, cross party talks are progressing as a means of resolving the Brexit issue, which suggests we may be moving towards a scenario where the UK remains in the Customs Union.While it has been suggested that a high number of Tory MP's won't vote...

Share This