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Trump's tariffs on Chinese imports are about to get personal

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Tue, 18 Sep 18 7:05 PM | 36 view(s)
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Trump's tariffs on Chinese imports are about to get personal

For millions of American consumers, the Trump administration's trade war with China is about to get personal.

President Trump's decision Monday to slap 10 percent tariffs on another $200 billion in Chinese imports starting September 24 ensures shoppers all over the country will face higher prices on everything from air conditioners to lamps. The move subjects roughly half of Chinese goods coming into the U.S. to import taxes that in many cases will be passed along to consumers.

And it could soon get worse. Trump pledged to dial up the tariffs even further — imposing duties on all Chinese imports — if Beijing retaliates for the latest escalation; and the Chinese government on Tuesday said it will respond immediately. Either way, the administration will jack up the tariffs to 25 percent at the end of the year.

Monday's move marks the beginning of a new phase in a trade war that for many Americans so far has remained confined to headlines. Only 1 percent of the Trump administration's initial round of tariffs on $50 billion of Chinese imports fell on consumer goods. By contrast, nearly a quarter of the new levies hit consumer goods, as shown by this chart from the Peterson Institute for International Economics that examines the administration's original proposal for taxing the additional $200 billion in imports:

more:
http://www.washingtonpost.com/news/powerpost/paloma/the-finance-202/2018/09/18/the-finance-202-trump-s-tariffs-on-chinese-imports-are-about-to-get-personal/5b9fccae1b326b47ec959659/?utm_term=.58e041294a33




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