Tariffs on imports from China went into effect on Sunday, escalating the ongoing trade war between the world’s two largest economies, said the Wall Street Journal.
The US tariffs of 15% on tools, apparel items, some footwear and many electronics will be charged on imports valued at $111 billion last year, according to an analysis by the WSJ. Additional tariffs of 15% on $156 billion of smartphones, laptops, toys, videogames and other products have been postponed until December 15, after the period when goods are typically imported for the holiday season.
The US previously imposed tariffs of 25% on about $250 billion of Chinese imports, largely on items used by businesses, and those tariffs are set to rise to 30% in a month.
Chinese retaliatory measures also went into effect on Sunday, with more to come on December 15. The biggest categories of American exports to be hit with extra tariffs Sunday include $3.2 billion in annual soybean shipments, $2.55 billion in crude oil and $1.16 billion in pharmaceuticals, according to Panjiva Research.