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Trump's tariffs could hit $200 billion of Chinese goods this week

The United States could impose tariffs on roughly half of all Chinese goods entering the country by the end ...

Posted: Sep 5, 2018 2:08 PM
Updated: Sep 5, 2018 2:08 PM

The United States could impose tariffs on roughly half of all Chinese goods entering the country by the end of the week.

President Donald Trump's proposed tariffs on $200 billion of Chinese goods could go into effect as soon as Friday when a public comment period on the taxes concludes. It's unclear whether the new tariffs will be set at 10% or 25%.

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It could be the most painful round of tariffs the United States has imposed on Chinese products this year. The Trump administration slapped 25% tariffs on $34 billion of Chinese imports in July and another $16 billion last month. China was also on the receiving end of the aluminum and steel tariffs that the United States imposed on imports from much of the world.

China is the United States' largest trading partner. Almost $506 billion of Chinese goods were sold in the United States last year. But the tariffs are meant to punish China for what the Trump Administration says are unfair trade practices, such as stealing intellectual property. China has accused the United States of trade bullying.

Beijing has retaliated at each step of the way. It has imposed 25% tariffs on $50 billion of American goods to date. It's also threatened to respond to the newest round with tariffs on another $60 billion of US goods. It's hard for China to match the United States' tariff on $200 billion of goods because the United States exports far less to China.

President Trump initially asked the Office of the United States Trade Representative to investigate the impact of a 10% tariff, and then upped the proposal to 25% in early August.

The US government has sought public comment on the proposed list of goods that would be affected by the tariffs. Public hearings were held during the last two weeks in August and American businesses were allowed to submit written comments on the proposal. The tariffs could go into effect on $200 billion of goods as soon as the public comment period closes on September 6.

Many American business owners say the tariffs are hurting their companies. They have to decide whether to pay the tariff on an imported good or find a new supplier outside China.

The CEO of Jo-Ann Fabric and Craft Stores, Jill Soltau, said proposed tariffs on fabric, yarn and fleece would punish her company and her customers, instead of hurting China. The company imports most of its fabric from China because there are no domestic suppliers that can meet its volume and quality requirements, she said at a hearing on August 23.

"We support the president's overall efforts to improve the balance of trade with China, yet targeting fabric and craft components is not the appropriate solution," Soltau said.

Once the tariffs go into effect, businesses can submit an application requesting the government exclude a specific product from the tariff. They must show that the good is not produced anywhere else. But the process is arduous and creates a lot of uncertainty for businesses while they wait for a ruling, which could take months.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 320107

Reported Deaths: 7378
CountyCasesDeaths
DeSoto22291269
Hinds20741421
Harrison18444317
Rankin13917282
Jackson13731249
Madison10270224
Lee10060176
Jones8473167
Forrest7834153
Lauderdale7263242
Lowndes6523150
Lamar636088
Lafayette6314121
Washington5426137
Bolivar4841133
Panola4671110
Oktibbeha466398
Pearl River4606147
Marshall4574105
Warren4440121
Pontotoc425973
Monroe4161136
Union415877
Neshoba4064180
Lincoln4009113
Hancock387087
Leflore3516125
Tate342586
Sunflower339491
Pike3372111
Alcorn327473
Scott320374
Yazoo314371
Adams308386
Itawamba305178
Copiah299966
Coahoma298984
Simpson298589
Tippah292268
Prentiss284261
Leake272274
Marion271280
Covington267283
Wayne264842
Grenada264087
George252251
Newton248963
Tishomingo232268
Winston230181
Jasper222148
Attala215173
Chickasaw210559
Holmes190374
Stone188733
Clay187954
Tallahatchie180041
Clarke178980
Calhoun174232
Yalobusha167840
Smith164134
Walthall135447
Greene131834
Lawrence131224
Montgomery128643
Noxubee128034
Perry127538
Amite126342
Carroll122330
Webster115032
Jefferson Davis108334
Tunica108127
Claiborne103130
Benton102325
Humphreys97533
Kemper96729
Franklin85023
Quitman82316
Choctaw79118
Wilkinson69632
Jefferson66328
Sharkey50917
Issaquena1696
Unassigned00

Alabama Coronavirus Cases

Cases: 549013

Reported Deaths: 11311
CountyCasesDeaths
Jefferson810461571
Mobile42145831
Madison35718525
Tuscaloosa26179458
Shelby25626254
Montgomery25089614
Baldwin21901314
Lee16287176
Calhoun14724327
Morgan14639285
Etowah14183364
Marshall12454230
Houston10791287
Elmore10301214
Limestone10188157
St. Clair10161251
Cullman9958201
Lauderdale9612250
DeKalb8977190
Talladega8462184
Walker7341280
Autauga7242113
Jackson6953113
Blount6950139
Colbert6415140
Coffee5638127
Dale4930116
Russell454941
Chilton4478116
Franklin431782
Covington4279122
Tallapoosa4144155
Escambia401880
Chambers3728124
Dallas3610158
Clarke353161
Marion3245107
Pike314578
Lawrence3134100
Winston283572
Bibb268564
Geneva258481
Marengo250665
Pickens237062
Barbour234559
Hale227178
Butler224671
Fayette218962
Henry194443
Randolph187644
Cherokee187345
Monroe180641
Washington170739
Macon163051
Clay160159
Crenshaw156357
Cleburne153644
Lamar146937
Lowndes142254
Wilcox126930
Bullock124542
Conecuh113630
Coosa111629
Perry108626
Sumter105832
Greene93634
Choctaw62125
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Columbus
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High pressure will continue to dominate our weather forecast over the next few days. This will at least keep our area dry for our Wednesday and maybe a little room for a few showers on our Thursday, however nothing major.
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