Containers are seen at a port in Huaian, Jiangsu province, China. File photo/Reuters
The United States began collecting higher, 25% tariffs on many Chinese goods arriving in US seaports on Saturday morning in an intensification of the trade war between the world’s two largest economies and drawing retaliation from Beijing.
US President Donald Trump imposed the tariff increase on a$200 billion list of Chinese goods on May 10, but had allowed a grace period for sea-borne cargoes that departed China before that date, keeping them at the prior, 10% duty rate.
The US Trade Representative’s office in a May 15 Federal Register notice set a June 1 deadline for those goods to arrive in the United States, after which US Customs and Border protection would begin collecting the 25% duty rate at US ports. The deadline expired at 12:01 a.m. EDT on Saturday
The tariff increase affects a broad range of consumer goods, and intermediate components from China including internet modems and routers, printed circuit boards, furniture, vacuum cleaners and lighting products.
Earlier on Saturday, China began collecting higher retaliatory tariffs on much of a $60 billion target list of US goods. The tariffs, announced on May 13 and taking effect as of midnight in Beijing (1600 GMT), apply additional 20% or 25% tariffs on more than half of the 5,140 US products targeted. Beijing had previously imposed additional rates of 5% or 10% on the targeted goods.
No further trade talks between top Chinese and US negotiators have been scheduled since the last round ended in a stalemate on May 10, the same day when Trump announced higher tariffs on $200 billion of Chinese goods and then took steps to levy duties on all remaining Chinese imports.
China ordered the latest tariff increases in response to Trump’s move.
Trump has accused China of breaking a deal to settle their trade dispute by reneging on earlier commitments made during months of negotiations. China has denied the allegations.
Beijing has grown more strident in recent weeks, accusing Washington of lacking sincerity and vowing that it will not cave to the Trump administration’s demands.
Its rhetoric has hardened particularly since Washington put Chinese company Huawei Technologies Co Ltd on a blacklist that effectively bans the firm from doing business with US companies.
China on Friday vowed to fight back against US President Donald Trump›s abrupt decision to slap 10% tariffs on the remaining $300 billion in Chinese imports, a move that ended a month-long trade truce.
Trade talks between the US and China broke up on Friday with no agreement, hours after President Donald Trump more than doubled tariffs on $200 billion in Chinese imports.
Wall Street’s main indexes fell on Friday after President Donald Trump threatened to slap new tariffs on China over the coronavirus crisis, while a profit warning from Amazon added to the gloom.
Moscow is emerging as a vibrant tourist destination, with particular emphasis on fostering ties with Gulf countries, especially the UAE. In recent years, various measures have been implemented to enhance the travel experience to Moscow and make it more convenient and enjoyable for
Gregonis praised Dubai as an innovative city with 12 US companies that have innovation centres where they showcase their latest technologies. She expressed her pride in the American national companies that are showcasing their latest achievements, especially in the field of the automotive industry.
The announcement was made following FATF’s plenary meetings, held between 19th to 23rd February, in the capital of France, Paris.