Donald Trump decreed last week that tariffs already scheduled for implementation on September 1 and December 15 respectively would see their rate increase by 5 per cent. Photo: AP
US moves quickly to implement Donald Trump’s trade war tariff increase on Chinese-made consumer goods
- US Federal Register notice confirms tariff rise from 10 to 15 per cent on US$300 billion of goods from Sunday
- Move in response to China’s decision to impose retaliatory tariffs of between 5 and 10 per cent on US$75 billion worth of American products
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US-China trade war
Donald Trump decreed last week that tariffs already scheduled for implementation on September 1 and December 15 respectively would see their rate increase by 5 per cent. Photo: AP
A technician adjusts an industrial robot as it stands on the production line of Guangdong Shiyi Furniture in Foshan, China. Exporters in Guangdong are hoping that the Chinese yuan may be devalued in order to help them deal with higher tariffs. Photo: Bloomberg
China exporters praying weaker yuan will save them from Donald Trump’s higher trade war tariffs
- For growing number of Chinese exporters, US tariff rates have reached their breaking point, meaning they expect to lose access to the American market
- Exporters in China’s manufacturing heartlands also express growing annoyance at US government and buyers, vowing to find new markets
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Yuan
A technician adjusts an industrial robot as it stands on the production line of Guangdong Shiyi Furniture in Foshan, China. Exporters in Guangdong are hoping that the Chinese yuan may be devalued in order to help them deal with higher tariffs. Photo: Bloomberg