President Donald Trump’s increased tariffs on $200 billion US in Chinese imports took effect as of 12:01 ET Friday, escalating tensions with Beijing.
The Trump administration raised the import taxes on those goods from 10 per cent to 25 per cent. China has threatened to retaliate if Trump proceeded with his threat to raise those tariffs.
The Trump team is intensifying its trade war with Beijing, which it claims reneged on commitments it had made in earlier trade talks. The tariff increase took effect even after negotiators for the two sides resumed talks Thursday in Washington.
The talks were due to resume Friday after wrapping up without any word on progress.
The higher import taxes won’t hit goods that already left Chinese ports before Friday’s deadline. Only when those shipments complete the three- to four-week voyage across the Pacific to the U.S. would they face the 25 per cent tariff.