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America increased duties on Chinese goods up to 25%

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America increased duties on Chinese goods up to 25%
May 10
09:00 2019

Increasing US duties on goods from China totaling $ 200 billion to 25% has become a reality. Talks about this decision by the United States have been going on since the beginning of this year, but the tariff increase has been constantly postponed.

The tariff increase has entered into force today. Throughout the week, Trump stated that the delay for China was coming to an end. And now imported goods are subject to a 25% tariff.

According to the documents sent by the US administration to the federal register, the new tariffs will not apply to goods arriving in the country before May 10.

The Ministry of Commerce of the People’s Republic of China has reported that the government is thinking over a response. It is still unknown what exactly official Beijing is speaking about.

Despite the fact that the market was waiting for a dispute resolution between America and China in the near future, on Sunday, President Trump said that duties on Chinese goods would soon be raised. The failure of the transaction by the PRC caused that decision. On the eve of the tariff increases, Mr. Trump announced that he had received an “excellent letter” from the Chinese leader. Apparently it did not make a proper impression on him. China has not received a new delay and duties have been raised to 25%.

However, negotiations between the states have not been canceled. A new round of the dialogue will be held in Washington on Friday.

About half of all Chinese exports to the United States are taxed at 25%. The total value of the goods that are imported at new tariffs is now $ 250 billion. China has already taken actions against American products, imposing increased duties on goods valued at 110 billion US dollars. Thus, duties are subject to more than 90% of all the goods imported from the States.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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