Home News Retailers howl as U.S. trade agency locks in 15% tariffs on September...

Retailers howl as U.S. trade agency locks in 15% tariffs on September 1

185
0
retailers-howl-as-us.-trade-agency-locks-in-15%-tariffs-on-september-1

REUTERS:

The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of Sept. 1 and Dec. 15, prompting hundreds of U.S. retail, footwear, toy and technology companies to warn of price hikes.

The U.S. Trade Representative’s office said in an official notice that collections of a 15% tariff will begin at 12:01 a.m. EDT (0401 GMT) Sunday on a portion of the list covering over $125 billion of targeted goods from China.

This initial tranche includes smartwatches, Bluetooth headphones, flat panel televisions and many types of footwear.

U.S. Customs and Border Protection will also start collecting a 15% tariff on Dec. 15 on the remainder of the $300 billion list, including cellphones, laptop computers, toys and clothing, USTR said in the Federal Register filing.

U.S. President Donald Trump announced the increase to 15% from 10% last Friday on Twitter, escalating the bitter U.S. China trade war after Beijing hit back with retaliatory tariffs on $75 billion worth of U.S. goods, including crude oil.

More from Reuters

Web Hosting