16 May 2019
Businesses who want to export products made in China to the US can expect to pay even higher rates from now on. After the trade negotiation between both countries on 10 May ended without an agreement, Donald Trump initiated the procedure to raise import duties for virtually all goods imported from China to 25%.
Most imported products, e.g. food and consumer electronics, were already taxed at a rate of 10%. On 10 May, this was raised to 25% for 200 billion dollars’ worth of imported goods from China, mainly consumer products such as smartphones, toys and clothing. If no agreement is reached, the same will happen to all other imported goods ($289 billion).