On September 1, the United States imposed a 10% tariff

Release Date:

2021-08-02

U.S. President Donald Trump tweeted on Thursday that he would impose 10% tariffs on the remaining $300 billion of Chinese imports starting Sept. 1.


The tariffs, which will hit a range of consumer goods from mobile phones and laptops to toys and footwear, will ratchet up trade tensions between the two countries after more than a year of tit-for-tat tariffs that have roiled global supply chains and rattled financial markets. 'Trade negotiations are continuing, during which the United States will impose 10 percent tariffs on the remaining $300 billion in goods and products from China, beginning September 1. This does not include the $250 billion of Chinese goods already subject to 25% import tariffs, 'Trump tweeted.


In addition to announcing the new tariffs, Mr. Trump accused China of not following through on promises to buy more American agricultural products and criticized China for not doing more to curb sales of the synthetic opioid fentanyl.


There are reports that 'fentanyl (mainly used as a painkiller)' in the tweet is also a key to the US-China trade war.


A US official said China was the main source of fentanyl. With 28,000 people overdosing on synthetic opioids containing fentanyl in the United States in 2017, Trump wants to reduce the large number of fentanyl and fentanyl-related substances entering the country.


In December 2018, Chinese leaders made a commitment at a summit in Argentina to take action on export controls of related substances. Expanding the list of state-controlled narcotics from May 1, 2019 to include more than 1,400 known fentanyl-like substances.


That said, Trump's accusations in his tweet are too subjective, because China has already made commitments and taken actual actions.


The tariff stick will come again


According to Reuters, Trump said he could raise tariffs further, even more than 25 percent, depending on progress in trade talks with China.


'I think the Chinese leader, he wants to make a deal, but frankly, he's not moving fast enough,' Mr. Trump said.


The next round of trade talks will be held in September. A White House official said President Donald Trump's announcement of the new tariffs came after a recent round of trade talks between the two countries that made 'little progress.' Mr. Trump was not satisfied with the outcome of the trade talks and decided to keep up the pressure on China.


Trump's move to impose tariffs on China again will have an indelible impact on consumers in the US market. But in Trump's view, the additional tariffs will not have an impact on American consumers. In fact, these new tariffs will lead to higher prices, which will ultimately be paid by American consumers.


I hope that the president of the United States will not always go back on his word and understand the meaning of a word that is past recalling.

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