US tariff increase on $200B of Chinese imports takes effect
The Associated Press
May 09, 2019 09:10 PM
A man browses an iPhone unit on display at a section selling Apple’s products together with Chinese made electric appliances at a hypermarket in Beijing, Thursday, May 9, 2019. Ratcheting up tension ahead of talks in Washington, China vowed Thursday to defend its own interests and retaliate if President Donald Trump goes ahead with more tariff hikes in a dispute over trade and technology.
President Donald Trump’s increased tariffs on $200 billion in Chinese imports took effect as of 12:01 Eastern time Friday, escalating tensions with Beijing.
The Trump administration raised the import taxes on those goods from 10% to 25%. China has threatened to retaliate if Trump proceeded with his threat to raise those tariffs.
The Trump team is intensifying its trade war with Beijing, which it claims reneged on commitments it had made in earlier trade talks. The tariff increase took effect even after negotiators for the two sides resumed talks Thursday in Washington.
The talks were due to resume Friday after wrapping up without any word on progress.
The higher import taxes won’t hit goods that already left Chinese ports before Friday’s deadline. Only when those shipments complete the three- to four-week voyage across the Pacific to the U.S. would they face the 25% tariff.