Friday, 15 October 2021

US starts collecting 25% tariffs on Chinese products arriving by sea

© Aly Song / Reuters

WASHINGTON: The move comes after earlier in the day, China also began collecting higher duties on almost $60 billion worth of American products in retaliation for a recent US tariff hike.

The United States started collecting new 25 percent tariffs on a vast number of Chinese goods arriving in the country’s ports on Saturday, Reuters reported.

The hike from the previous 10 percent tariffs will affect various consumer goods and intermediate components, including printed circuit boards, furniture, internet modems, routers, and lighting products.

Washington and Beijing have been engaged in a trade conflict since May 2018 when US President Donald Trump announced he would impose higher tariffs on $50 billion worth of Chinese goods in a bid to fix the trade deficit.

Since then, the two countries have imposed several rounds of duties against each other, with Washington’s latest decision to introduce a 25 percent tariff fee, affecting at least $200 billion worth of Chinese goods.

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