The Trump administration on Wednesday made official its extra 5% tariff on $300 ...
WASHINGTON/DECATUR, Ill. - The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of Sept. 1 and Dec. 15, prompting hundreds of U.S. retail, footwear, toy and technology companies to warn of price hikes.
This initial tranche includes smartwatches, Bluetooth headphones, flat panel televisions and many types of footwear. A USTR spokesman said on Wednesday that the agency would issue a separate Federal Register notice with details of Trump’s planned tariff increase to 30% on $250 billion in goods that have already been hit with a 25% tariff, including procedures for collecting public comments on the move.
But he said, “That will be the wrong deal,” adding that he preferred to “do it in a right way.” He said the latter approach requires a tougher stance and longer negotiations.DIRECT HIT ON CONSUMERS “Imposing tariffs in September on the majority of all footwear products from China - including nearly every type of leather shoe - will make it impossible for hardworking American individuals and families to escape the harm that comes from these tax increases,” the companies wrote in a letter to Trump.
“I can tell you that it’s unlikely anything quick will happen given the structural basis of the problems,” White House trade adviser Peter Navarro said in an interview with Fox Business Network on Wednesday.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Retailers howl as U.S. trade agency locks in 15% tariffs on Sept. 1The Trump administration on Wednesday made official its extra 5% tariff on $300 ...
Read more »
15 Best Shampoos for Hair Growth If You're Looking for a Few Extra Inches of LengthThis shampoo can stimulate hair growth by cleansing your scalp of buildup caused by your other hair products and the environment. It's also full of ingredients like argan oil, chamomile and jojoba extracts, that provide essential nutrients to the scalp.
Read more »
I have 15 streams of income, and here's why you should, tooCreating multiple streams of income is crucial for building financial independence and protecting your finances.
Read more »
15 US cities where it can feel like saving money is nearly impossibleFor those looking to save money, many cities in California and high-priced housing markets like Boston, New York City, and Miami won't be ideal.
Read more »
Spanish warship picks up 15 migrants to fire political shotA Spanish warship collected 15 rescued migrants from an Italian port on Tuesday,...
Read more »
Greta Thunberg reaches New York after 15-day yacht journeyTeenage climate activist Greta Thunberg is making landfall in New York after sailing across the Atlantic for the past 15 days.
Read more »