U.S. to Impose 10% Tariffs on $300 Billion Worth of Chinese GoodsAugust 5, 2019
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This month, President Trump announced that the United States will impose 10% tariffs on another US$300 billion worth of Chinese goods beginning September 1, according to CNBC.
In response to the tariffs, John Nothdurft, director of government affairs for ISSA, had the following statement:
“ISSA continues to support a comprehensive trade deal with China, but we are disappointed President Trump decided to add additional tariffs. Tariffs are hurting American businesses and consumers by increasing the costs of a multitude of products including those used to keep hospitals, schools, and homes clean and sanitary. The administration needs to stop imposing new tariffs and instead focus on negotiating a comprehensive trade deal that addresses the unfair trade practices, protects intellectual property, and creates a more equitable trade relationship with China.”
“Trade talks are continuing, and during the talks the United States will start, on September 1, putting a small additional tariff of 10% on the remaining US$300 billion of goods and products coming from China into our country,” Trump tweeted.
The announcement came the day after the United States and China resumed trade talks in Shanghai, the “first in-person trade talks since a G-20 truce.” According to The New York Times, expectations for the meeting were low due to the clash between the Unites States and China. In fact, both sides “went into the talks still lacking even a draft agreement that they could both work from.”
It is “unclear” exactly what urged Trump to end the trade war cease-fire, but what “remains a big sticking point” is whether China has followed through with what Trumps claims was a promise to purchase large volumes of U.S. agricultural goods. He also “blames Chinese President Xi Jinping for failing to block sales of the opioid Fentanyl to the United States.”
Hours after his announcement, Trump asserted that “the new tariffs could be raised to above 25%.” He added, “The 10% is for a short-term period, and then I can always do much more or less depending on what happens with respect to a deal.”
ISSA will continue to keep our members updated as the trade talks proceed. For additional information, or questions regarding tariffs, other legal issues, or ISSA’s advocacy efforts, please contact ISSA Director of Government Affairs John Nothdurft at Johnn@issa.com.