On Sunday, the U.S. kicked off its latest round of tariff on China goods.
The U.S.is imposing 15% tariff rate on a range of imports from China, including footwear, smart watches and flat-panel televisions - which are largely consumer goods. As part of this fresh round of levies, tariffs on $112 billion worth of Chinese goods have already been slapped on Sunday, with plans to impose duties on another $160 billion in mid-December.
The tariffs prior to Sunday’s announcement were more focused on intermediate inputs like industrial components.
According to the American Apparel and Footwear Association, 91.6% of Chinese apparel imports will be affected by the new round of tariffs, while 68.4% of home textiles and 52.5% of footwear would be hit as well.
The remainder of the tariffs on China, planned for December, are expected to include cell phones and laptops as well.
However, U.S. President Donald Trump has indicated that U.S. negotiations/talks with China are still underway, such as their scheduled meetings in September. The U.S. administrators are splitting up the tariff impositions apparently to mitigate the cost effect on during holiday shopping season.