You will be redirected back to your article in seconds
Skip to main content

Trump Adds Another $200 Billion in Tariffs on China Set to Take Effect Next Week

In an after-market announcement Monday, the Trump Administration confirmed plans to carry forward with another $200 billion in tariffs on China.

This $200 billion comes in addition to the $50 billion already in place and comes ahead of what could be another $267 billion in tariffs on imports from China—which would cover virtually all of the product the U.S. brings in from its Asian trade foe.

The new round of tariffs—set to take effect from Sept. 24—will start as a 10 percent duty on the $200 billion worth of goods, and President Trump has promised that 10 percent will climb to a 25 percent tariff on Jan. 1, 2019.

While some textiles will be spared from the tariffs, the new list does target some textiles and machinery, plus handbags, hats. More specifically, apparel and clothing accessories made of leather, fur, plastic, rubber, and hooks, eyes and eyelets used for clothing, footwear, handbags and travel goods are some of the products that will be hit with the new 10 percent tariff next week.

In a statement announcing the news, Trump said the U.S. has repeatedly warned China about its interest in protecting U.S. trade and the economy, which has been met with retaliatory tariffs, rather than rectification from China. And more like actions from China could result in even more tariffs.

“If China takes retaliatory action against our farmers or other industries, we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports,” Trump said in the statement. “China has had many opportunities to fully address our concerns. Once again, I urge China’s leaders to take swift action to end their country’s unfair trade practices.”

China has already alluded to withdrawing from trade talks with the U.S. if the $200 billion in tariffs Trump was mulling over took effect, two people familiar with the matter told Bloomberg, so Monday’s move sets the stage for more tough times ahead in trade.

Related Stories

In a statement immediately following the news, the Retail Industry Leaders Association (RILA) expressed concerned for American consumers sure to stem from this ongoing war on trade.

“We are extremely discouraged by the Administration’s announcement to levy tariffs on millions of products American consumers buy every day,” said Hun Quach, vice president of international trade for RILA. “Tariffs are a tax on American families, period. Consumers– not China – will bear the brunt of these tariffs and American farmers and ranchers will see the harmful effects of retaliation worsen. We are disappointed to see that warnings from importers and exporters representing every sector of the U.S. economy have not been heeded with no time for mitigation.”

Ahead of the final confirmation of the additional $200 billion in tariffs, the National Retail Federation (NRF) pointed to major pain points for the coming holiday season.

“With these latest tariffs, many hardworking Americans will soon wonder why their shopping bills are higher and their budgets feel stretched,” NRF president and CEO Matthew Shay said. “We cannot afford further escalation, especially with the holiday shopping season right around the corner. The mere talk of tariffs on all remaining Chinese imports is of serious concern to retailers since tariffs of that magnitude would touch every aspect of American life.”