China, U.S. tariffs are now in effect


The tariffs are here.
Trade teams from the U.S. and China will reportedly meet in September in the hopes of inching closer toward a deal between Beijing and Washington, but tariff increases on $112 billion in certain Chinese goods still went into effect Sunday at midnight, as planned. The tariffs will make it 15 percent more expensive for U.S. companies to import many Chinese goods, including televisions and footwear, though some tariffs have been delayed until after the holiday shopping rush. The newest round of tariffs are consumer-focused and will reportedly cost the average American household $1,000 per year.
Chinese retaliatory tariffs ranging from five percent to 10 percent also went into effect Sunday; Beijing plans to start collecting additional tariffs on Dec. 15. The two sides had used some conciliatory language earlier this week, indicating effective communication between Washington and Beijing was still in play, but Chinese state media was defiant Sunday, Reuters reports. "The United States should learn how to behave like a responsible global power and stop acting as a 'school bully'," the official Xinhua news agency said. Read more at NBC News and Reuters.
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.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement