US will raise tariffs of Chinese imports: $200 billion worth
Jack May 08, 2019 19:53 IST
According to a notice posted to the Federal Register on wednesday, the United States will raise tariffs from 10 percent to 25 percent on $200 billion worth of Chinese imports. It will effective from friday (May 10).
Wednesday's announcement said that the trade data came after President Donald Trump sent global financial markets plunging with a surprise threat of more penalties on Chinese imports.
The Federal Register notice said, "The US Trade Representative's office will establish a process to seek exclusions for certain products from additional tariffs".
On Sunday, Trump tweeted that he would raise the 10% charge to 25% percent, effective Friday and also considering imposing penalties on the rest of Chinese goods shipped to the United States.
US will raise tariffs of Chinese imports: $200 billion worth
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