Containers are seen at a port in Huaian, Jiangsu province, China. File photo/Reuters
The United States began collecting higher, 25% tariffs on many Chinese goods arriving in US seaports on Saturday morning in an intensification of the trade war between the world’s two largest economies and drawing retaliation from Beijing.
US President Donald Trump imposed the tariff increase on a$200 billion list of Chinese goods on May 10, but had allowed a grace period for sea-borne cargoes that departed China before that date, keeping them at the prior, 10% duty rate.
The US Trade Representative’s office in a May 15 Federal Register notice set a June 1 deadline for those goods to arrive in the United States, after which US Customs and Border protection would begin collecting the 25% duty rate at US ports. The deadline expired at 12:01 a.m. EDT on Saturday
The tariff increase affects a broad range of consumer goods, and intermediate components from China including internet modems and routers, printed circuit boards, furniture, vacuum cleaners and lighting products.
Earlier on Saturday, China began collecting higher retaliatory tariffs on much of a $60 billion target list of US goods. The tariffs, announced on May 13 and taking effect as of midnight in Beijing (1600 GMT), apply additional 20% or 25% tariffs on more than half of the 5,140 US products targeted. Beijing had previously imposed additional rates of 5% or 10% on the targeted goods.
No further trade talks between top Chinese and US negotiators have been scheduled since the last round ended in a stalemate on May 10, the same day when Trump announced higher tariffs on $200 billion of Chinese goods and then took steps to levy duties on all remaining Chinese imports.
China ordered the latest tariff increases in response to Trump’s move.
Trump has accused China of breaking a deal to settle their trade dispute by reneging on earlier commitments made during months of negotiations. China has denied the allegations.
Beijing has grown more strident in recent weeks, accusing Washington of lacking sincerity and vowing that it will not cave to the Trump administration’s demands.
Its rhetoric has hardened particularly since Washington put Chinese company Huawei Technologies Co Ltd on a blacklist that effectively bans the firm from doing business with US companies.
Trade talks between the US and China broke up on Friday with no agreement, hours after President Donald Trump more than doubled tariffs on $200 billion in Chinese imports.
The United States will not impose any new tariffs on China for now, President Donald Trump said on Saturday after high-stakes talks with his Chinese counterpart on the bruising trade war.
US President Donald Trump announced on Thursday he will hit China with punitive tariffs on another $300 billion in goods, prompting Beijing to warn it was the wrong way to resolve the trade war.
Dubai Chamber’s representative offices in Latin America recently organised a webinar to promote Expo 2020 Dubai as a platform to doing business in Dubai
President Joe Biden all set to unveil a target backed by the Detroit automakers for half of all cars sold in the United States by 2030 to be zero-emission vehicles, the White House announced.
Emirates and Aeromar have announced that they have entered into an interline partnership, which will provide seamless connectivity for customers between destinations in Mexico and United States via Mexico City to Emirates’ global network.