US-China Trade War reaches New High with New Tariffs on Chinese Goods coming into Effect from September 1

  • The 15% tariff on US$150 billion of Chinese goods (including cheese, meat, pen, and musical instrument) will come into effect on Sunday (September 1, 2019). If the US-China trade war doesn’t end by the end of the year, then the 15% tariff will be implemented on a new set of Chinese goods (including clothing and footwear) of US$150 billion value. Till now, the US has imposed 10% tariff on around US$250 billion of Chinese goods and China has reiterated by imposing tariffs on US$110 billion of US products. The prospect of a resolution to the US-China trade war looks grim especially after the latest escalation of additional 5% tariff (increasing tariff from 10% to 15%, announced in early August’19) by the US on the Chinese products. On Friday, the US President Donald Trump has said that the Chinese have put themselves into a bad situation and went on to predict that around 13% of certain companies will leave “China in the not-too-distant future.”