tariffs

U.S. to Further Implement Trade Tariffs

Dan Industry News Release, Trade

The U.S. plans to implement more tariffs on China as part of an ongoing trade war between the two countries.

implimentIn a statement released this week, U.S. Trade Representative Robert Lighthizer says he was ordered by President Trump to begin the process of imposing tariffs of ten percent on an additional $200 billion of Chinese imports. The tariffs will follow the 25 percent tariffs implemented last week on approximately $34 billion worth of Chinese imports and will eventually cover up to $50 billion in Chinese imports.

The latest action from the Trump administration was attributed to China’s retaliation of imposing tariffs on $34 billion in U.S. exports to China, and threatening tariffs on another $16 billion. Lighthizer claims China retaliated “without any international legal basis or justification.”

An administration official told reporters this week the administration would “listen to farmers complaints” at a hearing next month on the tariffs, but added that farmers are “aware Trump’s trade initiatives would help them in the long run.”

From the National Association of Farm Broadcasting News Service.