Motilal Oswal
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Motilal Oswal
Economy

Trump's tariff hike on $200 billion of Chinese goods takes effect

Updated : May 10, 2019 09:50 AM IST

With no action from the Trump administration to reverse the increase, US Customs and Border Protection imposed the new 25 percent duty on affected US-bound cargoes leaving China after 12:01 a.m. EDT (0401 GMT) on Friday.
Goods in the more than 5,700 affected product categories that left Chinese ports and airports before midnight will be subject to the original 10 percent duty rate, a CBP spokeswoman said.
Trump gave US importers less than five days notice about his decision to increase the rate on the $200 billion categories of goods to 25 percent, which now matches the rate on a prior $50 billion category of Chinese machinery and technology goods.
Trump's tariff hike on $200 billion of Chinese goods takes effect
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