WASHINGTON (KFTA) — In response to what the Trump administration called “China’s theft of American intellectual property and forced transfer of American technology,” on September 24, 2018 the Trump Administration imposed a 10% tariff on $200 billion in Chinese imports.
The tariffs were set to increase on January 1, 2019, but were postponed for continued negotiations between President Donald Trump and China’s President Xi Jinping.
Then on May 10, 2019, the administration ultimately decided to move forward with the increased 25% tariff.
Fast-forward to August 13, 2019 and President Trump promised a 10% tariff on another $300 billion in Chinese goods, with one round going into effect September 1, 2019, and the other on December 15, 2019.
The President said he’s holding off on imposing the additional tariffs until December in fear Christmas shopping would be impacted.
“I’m doing this for Christmas season just in case some of the tariffs would have an impact on U.S. consumers,” said President Donald Trump.
Formal trade talks with China are expected to resume in September.