The Trump administration on Wednesday made official its extra 5% tariff on $300 ...
WASHINGTON/DECATUR, Ill. - The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of Sept. 1 and Dec. 15, prompting hundreds of U.S. retail, footwear, toy and technology companies to warn of price hikes.
This initial tranche includes smartwatches, Bluetooth headphones, flat panel televisions and many types of footwear. A USTR spokesman said on Wednesday that the agency would issue a separate Federal Register notice with details of Trump’s planned tariff increase to 30% on $250 billion in goods that have already been hit with a 25% tariff, including procedures for collecting public comments on the move.
But he said, “That will be the wrong deal,” adding that he preferred to “do it in a right way.” He said the latter approach requires a tougher stance and longer negotiations.DIRECT HIT ON CONSUMERS “Imposing tariffs in September on the majority of all footwear products from China - including nearly every type of leather shoe - will make it impossible for hardworking American individuals and families to escape the harm that comes from these tax increases,” the companies wrote in a letter to Trump.
“I can tell you that it’s unlikely anything quick will happen given the structural basis of the problems,” White House trade adviser Peter Navarro said in an interview with Fox Business Network on Wednesday.
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