China's Reaction on Section 301 Tariffs

CHARLOTTE, N.C. - Sept. 3, 2019 - PRLog -- China announced the imposition of tariffs attached to certain United States commodities on August 23, 2019. In response to China's newest tax implementation, the U.S. administration has levied a 5% increase on the tariffs affecting approximately $550 billion worth of products currently being imported from China.

The 25% tariff increase affecting the list of $250 billion worth (lists 1,2, and 3) of Chinese imports will be raised to 30%, effective October 1, 2019 - immediately following an open period of public comments.

As far as the impending 10% tariffs affecting the $300 billion list (list 4) first announced earlier in May, will now be raised to 15% following the previously scheduled implementation date.

In short, tranches 1, 2, and 3 will increase to 30%, while tranche number 4 increases to 15%.

We will follow these events closely and issue updated information as it is released. The Federal Register will be updated by the United States Trade Representative (USTR) with meticulous details pertaining to the August 23rd announcement.

For more information visit, https://www.clnusa.com/news