US to Impose 10% Tariff on List Four Chinese Goods
The U.S. announced Aug. 1 it will impose a 10% tariff on $300 billion of Chinese goods beginning Sept. 1. This leaves businesses with just under a month to prepare, although negotiations are set to continue. The tariffs will impact list four goods.
President Trump said he will meet with negotiators again in early September, according to Supply Chain Dive. Trump also said the 10% rate could go up or down, depending on the next round of negotiations. "It can be lifted up to well beyond 25%," he said, "but we're not looking to do that necessarily."
China is expected to push back in these negotiations, with a spokesperson for the Chinese foreign ministry readying to combat with "necessary countermeasures," according to Supply Chain Dive.
—Christie Citranglo, editorial associate