Trump Vows to Increase Tariffs on Chinese Goods

In the latest escalation in the China-U.S. trade war, President Trump elicited a series of tweets on Friday, August 23rd stating that Section 301 tariffs imposed on Chinese products would increase across the board. The tweets are a likely response to the retaliatory tariffs, to the tune of $75 billion, announced by China on Friday morning.

President Trump stated that tariffs on $250 billion worth of Chinese goods, spanning Lists 1, 2 and 3, would increase from 25% to 30% effective October 1st.

He also announced that the List 4A tariffs, set to take effect on September 1st, and the List 4B tariffs, which would be effective on December 15th, will be increased from 10% to 15%.

Shapiro will continue to monitor the situation and provide status updates on our Section 301 Tariff News page as they become available.