US-China tech war: Updates

President of American A&F Association describes new tariffs as if you are punishing your daughter for something your son did and it simply makes no sense. Why American consumer has to pay all these charges on dishwashers, shoes, clothes, food, and nappies? It’s hard to find something not present on the list of eligible products. The next wave is just 90 days away when the electronics consumers will scream after leaving the electronics store, they will be charged for something they have never assumed. Yes, Laptops, mobiles, and other products are on the list to be included in tariffs in December. Us consumers use Chinese made products of worth $550 billion each year. In response to Trump’s enhanced tariff China also put up an additional tariff of $110 billion in US imports.

A quick look at US-China tech war

 

Chart showing tariffs imposed by China and the US

What’s next?

Both sides have threatened to take more action with new tariffs and hikes to existing duties in the coming months.

The Trump administration plans to impose fresh tariffs of $300bn of Chinese goods – including smartphones and clothing – effectively taxing all Chinese imports into the US.

The first round of those duties will be introduced on 1 September.

Beijing has retaliated and plans to target $75bn worth of US goods with new duties and tariff hikes next month.

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