The Trump administration on Monday imposed tariffs on an additional $200 billion worth of Chinese imports.
This will affect consumer products like spark plugs, air conditioners, furniture, and lamps. Senior administration officials told The Washington Post that starting Sept. 24, U.S. importers will pay an extra 10 percent tariff on those products, rising to 25 percent at the end of the year.
China has said it will retaliate by slapping import taxes on $60 billion worth of American items; in a statement, Trump said if China does this, the United States will "immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports." Trump's first tariffs hit in July, and now, about half of the $505 billion worth of items Americans buy every year from China face tariffs, the Post says.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
August 24 editorial cartoonsCartoons Sunday's political cartoons include Putin at Donald Trump's circus, gallons of whitewash, and a foldable cartoon
-
5 Post Office-approved cartoons about mail-in votingCartoons Artists take on reverse logic, Putin's election advice, and more
-
The battle of the weight-loss drugsTalking Point Can Novo Nordisk and Eli Lilly regain their former stock market glory? A lot is riding on next year's pills
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
Switzerland could experience unique economic problems from Trump's tariffsIn the Spotlight The current US tariff rate on Switzerland is among the highest in the world
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
How is Trump's economy doing?Talking Points The latest jobs numbers suggest a slowdown in the offing
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Is Trump's tariffs plan working?Today's Big Question Trump has touted 'victories', but inflation is the 'elephant in the room'
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
