China’s Retaliation: $60 billion in tariffs on the US effective Sept. 24
China said it will institute new tariffs on U.S. goods worth $60 billion on Sept. 24, according to a Reuters report.
The media outlet said the Asian country's tariff rate on a list of 5,207 U.S. products will range between 5 percent and 10 percent.
Yesterday, September 18th, President Trump announced the US is imposing new tariffs on $200bn worth of Chinese goods. The taxes will take effect on September 24, starting at 10% and increasing to 25% at the beginning of 2019. This is the biggest round of US tariffs so far, applying to almost 6,000 items.
While it's hard to predict the future, there are concrete strategies your company can take to respond to the trade war, from duty drawback to inventory management and more. Contact us and our customs specialists will answer any questions or concerns you may have.