The new round of punitive tariffs on Chinese products announced by US President Donald Trump comes into effect as planned. Tariffs on imports worth $ 300 billion (€ 272 billion) increased by 15 percent from tomorrow, Trump said yesterday in Washington. The economic pressure of the US is also responsible for the fact that Beijing is not harsher against the democracy movement in the Hong Kong Special Administrative Region, said Trump.
In addition to the new punitive duties, which come into effect on 1 September, the already imposed punitive tariffs of 25 percent on Chinese goods worth 250 billion dollars will be increased to 30 percent by October 1.
The trade conflict between the two largest economies in the world is fueling fears of a global economic slump. The fear of a recession is also raging in the USA.
Meeting in September
Trial teams from China and the United States maintained the talks and would meet in September, Trump said. „We will win the fight,“ Trump told media. „We have talks with China, meetings are planned, calls are being made. I guess the September meeting will continue, it was not canceled. “
The surcharges would be charged from midnight on the night of today to Sunday and also affect all previously mentioned goods – including electronics, shoes and bed linen. In the past, the customs authorities had for a short time left goods without a special mark in the country, which were already on the way.
