President Trump to Impose New 10% Tariff on Chinese Goods
August 6, 2019
The U.S. may levy a 10 percent tariff on $300 billion in Chinese goods beginning on Sept. 1, according to reporting by the Washington Post. The tariff will be imposed on the remaining goods that have not already been taxed – President Trump increased a 10 percent tariff on $250 billion in Chinese goods to 25 percent in May. If the tariff takes effect, they will affect consumer goods, whereas the previous tariffs targeted industrial goods, according to reporting.
Exactly half of the respondents in January's Industry Pulse survey reported negative business effects due to tariffs and trade policy. The majority—60 percent—did not intend to alter product offerings due to the tariffs, while 93 percent anticipated increased material costs this year. Across the board, respondents planned to raise prices to offset higher material costs.
Learn more about tariffs from Window & Door's sister publication, Glass Magazine.