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Additional Tariffs in Effect


On Sunday, September 1st, the U.S. imposed an additional 5 percent tariff on specific items within  a diverse universe of goods valued at $300 billion, imported annually from China. An additional tariff on footwear, toys and technology items will take effect on December 15th unless there is a resolution of the trade dispute between our nation and China.

Approximately $125 billion of targeted goods will be subject to the 15 percent tariff including flat-panel televisions, some footwear and technology. The increase was in response to China placing retaliatory tariffs on $75 billion in U.S. goods including crude oil. A spokesperson for the Office of the U.S. Trade Representative noted that a notice will appear in the Federal Register with regard to a planned tariff increase to 30 percent on an existing $250 billion in imports from China currently carrying a 25 percent tariff.

Despite Administration assertions, increased tariffs will most certainly be passed on to consumers and may add $4 billion to family expenses in 2020 unless there is a resolution of the trade dispute. There are no details regarding the proposed September meeting between representatives of China and the U.S., previously agreed to take place in Washington, DC.