Published On: November 29, 2018 12:05 AM NPT By: Republica | @RepublicaNepal
Last week, President Donald Trump said the U.S. is prepared to impose tariffs on all remaining Chinese products if he cannot make a deal with President Xi Jinping at the G20 meeting in Argentina, which starts on November 30. A successful deal would open China up to competition from the United States, according to Trump. If not, the new tariff rate could be either 10 or 25 percent and would affect around 267 billion U.S. dollars worth of Chinese shipments (based on trade figures from 2017). Consumer goods such as cell phones, laptops, and computer monitors would be the primary products hit by the new tariffs. Apple Inc.’s iPhones and laptops imported from China could be among the top targets. Currently, the U.S. has already imposed tariffs on 250 billion U.S. dollars worth of Chinese goods according to Bloomberg. In return, China has set tariffs on around 110 billion U.S. dollars worth of U.S. products. If Trump’s new tariffs are announced in early December, they will likely take effect by February 2019.
Leave A Comment