U.S. Going Ahead with 25% Tariff on $50 Billion Worth of Goods

On Tuesday, May 29th, the White House announced that the Trump administration will go forward with a 25% tariff on $50 billion worth of products coming from China. This comes just 10 days after Treasury Secretary Steven Mnuchin announced a hold on Section 301 tariffs to delay a possible trade war with China and allow the two countries to come to an agreement. According to a statement released by the White House, a final list of all covered imports will be announced by June 15th, and the 25% tariffs will be imposed shortly after that date.

Shapiro will continue to monitor the situation and provide updates as they become available.