Trump Announces Tariffs on $50 Billion Worth of Chinese Goods
As of this morning, June 15th, 2018 Donald Trump has announced some news that there will be tariffs on $50 billion worth of Chinese goods.
He’s also said that if the Chinese retaliate even more tariffs can be put in place.
“In light of China’s theft of intellectual property and technology and its other unfair trade practices, the United States will implement a 25 percent tariff on $50 billion of goods from China that contain industrially significant technologies,” Trump said in a statement.
“This includes goods related to China’s Made in China 2025 strategic plan to dominate the emerging high-technology industries that will drive future economic growth for China, but hurt economic growth for the United States and many other countries.”
The news has caused the markets to drop in early hours of trading as well.
“The first section will be implemented on July 6 and apply to 818 goods with a total value of $34 billion. The second set, which includes 284 goods equal to $16 billion worth of imports, would come later and be subject to additional public comments.
The list generally hits industrial goods rather than consumer items, according to the USTR statement.” (R)
Right now this doesn’t appear to be affecting us as Amazon FBA sellers, however, if Trump creates a trade war here with China these tariffs could start to extend to less industrial good and move to more consumer items.
We will be watching this to keep you further updated.
Resources and References
[+] Financial Times
[+] Learn to sell on Amazon with our Infinity Code program