US to finalise list of Chinese goods to be hit with tariffs on Friday
Today, US President Donald Trump will publish a finalised list of products that will be hit with 25% import tariffs.
The list originally included some 1,300 products, though that number is expected to be trimmed slightly. Due to accusations that Chinese firms have engaged in intellectual property theft, the majority of imports under consideration for excises, like televisions and medical devices, come from technology companies. China has threatened major US agricultural and manufactured exports with retaliatory tariffs.
These duties could go into effect immediately, or President Trump could prolong deliberations until after midterm elections in November. Washington could ultimately scrap the tariffs altogether, especially if China lowers duties on US technology imports.
President Trump has given no indication that tariffs will not be imposed, and the ongoing trade war with China is set to continue. This new round of levies could be felt strongly by American consumers, with domestic prices of technology goods likely to rise in response. President Trump may be met with disapproval from his base if price levels rise, while China reduces US agricultural imports, on which some Republican constituencies in the Midwestern US seriously rely.
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