Current Trump China Tariffs

Current Trump China Tariffs

With the current phase one of the China trade deal still not signed or even in written form this month there is a high probability that new tariffs could start as scheduled on December 15th . President Trump could extend new punitive tariffs to all of the Chinese imported goods this month.

The Trump administration currently has not changed their plans to begin raising and adding tariffs on imported Chinese products. On the December 15th deadline tariffs will be raised from 10% to 15% on the remaining approximately $160 billion worth of goods and go into effect on Chinese exports to the U.S. unless the phase one trade deal is signed. 

When asked for a comment on the current ongoing talks with China on a trade deal, Trump said:

“I have no deadline, In some ways I like the idea of waiting until after the election for the China deal.”

He added: “But they want to make a deal now, and we’ll see whether or not the deal’s going to be right, it’s got to be right.”

Today Bloomberg reported that the U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal despite tensions over Hong Kong and Xinjiang.