UPDATE: USA lifts tariffs on Chinese importsUPDATE: USA lifts tariffs on Chinese imports |
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The USA government on Friday, 10 May 2019 officially hike the tariffs on USD 200 billion worth of Chinese imports from the current 10 per cent to 25 per cent. The tariffs increase despite the fact that both countries are still in meeting to resolve the trade war issues.
The 5,745 products were first charged with 10 per cent import duties on 24 September 2018, including 55 plastics end products carrying HS code heading 39.
It is expected that Internet modems, routers and other data transmission devices would be impacted the most once the tariffs increase, followed by printed circuit boards. Furniture, lighting products, auto parts, vacuum cleaners and building materials are also on the list of products subjected to higher duties.
According to an official announcement from the USTR, products included in the 5,745 product list exported from China before 10 May 2019 are not subjected to the higher tariffs if the shipment arrives the USA before 1 June.
The Chinese government has vowed to retaliate and the market is now watching closely the next action.