China announced last Friday, August the 23rd that it will increase its tariff on U.S. goods imported into China and worth approximately $75 billion. Not long after, also on Friday late afternoon, President Trump reacted by sending tweeter messages stating that the duties for China Section 301 Lists # 1, 2 and 3 will be increased from the current 25% to 30% effective October 1, 2019 and the duties for List # 4 that are scheduled to go into effect on September 1, 2019 will now start at 15% instead of 10%.
As we all know, none of these announcements are official, or can be implemented until published by the U.S. Trade Representative in the Federal Register. However, we have seen that in the past, it has just been a matter of time before the President’s tweets in regards to China sanctions actually become reality.
For now, the trade war between the United States and China rages on and without an end in sight.