US, China Finalize New Set of Tariffs

The U.S. Trade Representative has finalized tariffs on $200 billion worth of Chinese imports, reports CNBC. The additional tariffs will become effective Sept. 24 with a starting rate of 10 percent that will jump to 25 percent on Jan. 1, 2019. The list contains 5,745 full or partial lines of the original 6,031 tariff lines that were proposed, including an extensive number of food products. Meanwhile, China will institute new tariffs on U.S. goods worth $60 billion on Sept. 24. The tariff schedule will include 5,207 U.S products with duties ranging between 5 percent and 10 percent, according to the report. Full Story

Related: Tariffs Could Cause Dairy, Meat Price Drop; Buyer Panel: Tariff Impacts.

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