Home Tags Posts tagged with "chinese products in us"

chinese products in us

0
Image source Flickr

China and the US have announced a preliminary trade agreement.

The so-called phase one deal will see billions of dollars in tariffs removed or delayed.

US stocks hit a fresh record on hopes there will be a continued softening of trade tensions between the world’s two largest economies.

Chinese Stock Markets Tumble on President Trump’s New Tariffs Announcement

US to Impose New Tariffs on Chinese Handbags, Rice and Textiles

China Imposes New Tariffs of Up to 25% on 128 US Imports

A fresh wave of US tariffs on Chinese imports was due to take effect on December 15. However, this has been canceled for now.

President Donald Trump tweeted: “We will begin negotiations on the phase two deal immediately, rather than waiting until after the 2020 Election.

“This is an amazing deal for all.”

If the new, higher tariffs had gone ahead, Chinese-made goods such as clothing, smartphones, and toys would have become more expensive for Americans just ahead of Christmas.

US negotiators are reportedly offering to significantly reduce existing tariffs on about $360 billion worth of Chinese imports.

In return, China has promised to buy large quantities of US soybeans, poultry and other agricultural products.

The agreement is a deal in principle, which means if China breaks any part of the agreement, the Trump administration has the ability to re-implement tariffs.

0

Image source Pixabay

The US is imposing new tariffs on $200 billion of Chinese goods as it escalates its trade war with Beijing.

The measure will apply to almost 6,000 items, marking the biggest round of US tariffs so far.

Handbags, rice and textiles will be included, but some items expected to be targeted such as smart watches and high chairs have been excluded.

The Chinese commerce ministry responded to the move by saying it had no choice but to retaliate but is yet to detail what action it will take.

The US taxes will take effect from September 24, starting at 10% and increasing to 25% from January 1, 2019, unless the two countries agree a deal.

President Trump Threatens $100 Billion More in China Tariffs

China Imposes New Tariffs of Up to 25% on 128 US Imports

White House to Announce Sanctions against China over Theft and Transfer of Intellectual Property

President Donald Trump said the latest round of tariffs was in response to China’s “unfair trade practices”.

He said: “We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly. But, so far, China has been unwilling to change its practices.”

President Trump also warned that if China retaliated then the US would “immediately pursue phase three” and impose further tariffs on another $267 billion worth of Chinese products.

Such a move would mean almost all of China’s exports to the US would be subject to new duties.

After opening lower, the Shanghai stock market ended the day 1.8% higher, while Tokyo was up 1.4% and Hong Kong gained 0.6%.

In July, the White House increased charges on $34 billion worth of Chinese products. Then last month, the escalating trade war moved up a gear when the US brought in a 25% tax on a second wave of goods worth $16 billion.

© © 2011 - 2023 BelleNews.com