Washington: The United States will raise tariffs on $200 billion worth of Chinese imports to 25% from 10% effective on Friday, according to a notice posted to the Federal Register on Wednesday. The US Trade Representative's office will establish a process to seek exclusions for certain products from additional tariffs, the Federal Register notice said. US President Donald Trump said in a tweet that he would be "very happy with over $100 Billion a year in Tariffs filling US coffers." During a 10-month US-China war, US tariffs have been imposed on $250 billion worth of Chinese goods, and retaliatory Chinese tariffs slapped on $110 billion worth of American products. Trump had initially set the tariff increase to 25% on $200 billion worth of Chinese goods, including internet modems and routers, printed circuit boards, vacuum cleaners and furniture, in January.

Source: Mint May 08, 2019 13:07 UTC