U.S. trade agency affirms Trump's tariff hike on Chinese goods

The U.S. Trade Representative's office on Wednesday officially reaffirmed President Donald Trump's plans to add an additional 5% tariff on a $300 billion list of Chinese imports starting on Sept. 1 and Dec. 15.

USTR said in a Federal Register notice that it would impose a 15 percent tariffs to a portion of the target goods from Sept. 1, with the remainder, including cell phones and laptop computers, getting a 15% tariff on Dec. 15. The Trump administration had previously set plans to impose a 10% tariff on these imports.

Trump announced the tariff increase last Friday on Twitter in response to Chinese retaliatory tariffs on $75 billion worth of U.S. goods, including crude oil.

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