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… The U.S. Trade Representative’s office said in an official notice that collections of a 15% tariff will begin at 12:01 a.m. EDT (0401 GMT) Sunday on a portion of the list covering over $125 billion of targeted goods from China. This initial tranche includes smartwatches, Bluetooth headphones, flat panel televisions and many types of footwear.
U.S. Customs and Border Protection will also start collecting a 15% tariff on Dec. 15 on the remainder of the $300 billion list, including cellphones, laptop computers, toys and clothing, USTR said in the Federal Register filing.
U.S. President Donald Trump announced the increase to 15% from 10% last Friday on Twitter… Trump, speaking by phone to a farm trade show audience in Decatur, Illinois, said that he could do a “quick deal” with China to boost his 2020 re-election prospects. 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.
The Trump administration has, for two years, been pushing China to eliminate unfair trade practices and make sweeping changes to its policies on intellectual property protection, forced transfers of technology to Chinese firms, industrial subsidies and market access for U.S. companies.
MacDailyNews Take: As the back and forth continues, this quote springs to mind:
Everything is negotiable. Whether or not the negotiation is easy is another thing. — Carrie Fisher
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