The new tariffs at 10 percent could be imposed as early as Monday and would apply to more than 1,000 products, likely leading to higher prices for US consumers
US President Donald Trump has decided to impose tariffs on $200 billion in Chinese goods, two people briefed on the decision said, one of the most severe economic restrictions ever imposed by a US president.
An announcement is expected to come within days, the people said, speaking on the condition of anonymity because they were not authorised to discuss internal plans.
The new tariffs would apply to more than 1,000 products, including smartphones, televisions, toys, and a range of other products.
These penalties could drive up the cost of a range of products ahead of the crucial holiday shopping season, though it is unclear how much.
Trump has ordered aides to set the tariffs on these products at 10 percent across a range of consumer products, likely leading to higher prices for American consumers.
These tariffs are paid by US companies that import the products, though they often pass the costs along to US consumers in the form of higher prices.
The US imports roughly US$500 billion in Chinese goods each year, and – combined with existing tariffs – these new penalties would cover half of all goods sent to the US from China each year.
The 10 percent tariff is scaled back from Trump’s initial plan, which was to impose 25 percent penalties on all of these imports. But the impact will still likely be felt by millions of American consumers, as it would apply to smartphones, computers, toys, televisions, and many other middle-class staples.
A White House spokesman did not immediately respond to a request for comment on Saturday afternoon.
On Friday, White House spokeswoman Lindsay Walters said “the President has been clear that he and his administration will continue to take action to address China’s unfair trade practices. We encourage China to address the long-standing concerns raised by the United States.
