Trump Following Through on Chinese Tariffs

Tariffs

CBJ — U.S. President Donald Trump is moving ahead with a plan to impose 10% tariffs on about $200 billion worth of Chinese imports.

A few products did escape the taxation, including smart watches from Apple and Fitbit Inc. and other consumer products such as bicycle helmets and baby car seats.

Trump also warned that if China takes retaliatory action against U.S. farmers or industries, “we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.”

If those additional tariffs do become reality then the iPhone, along with all other smartphones, are likely to be included in the list.

Collection of tariffs on the long-anticipated list will start Sept. 24 but the rate will increase to 25% by the end of 2018, allowing U.S. companies some time to adjust their supply chains to alternate countries.

The tariffs imposed will equal $250 billion in total thus far. It’s the U.S. government’s response to what it feels are much needed changes to China’s trade, technology transfer and high-tech industrial subsidy policies.

@CanBizJournal

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