A cargo vessel holds shipping containers while other containers are seated in the port of Los Angeles, the country's busiest container port, in September 2018.
Mario Tama | Get News Images Getty Images
PAGE – China is moving slowly in the application of reimbursement tariffs as trade tensions with the US escalate.
The Chinese government went ahead on Sunday with tariffs raised between 5% and 1
However, the tariff ratio launched on Sunday represents only one-third of the more than 5,000 product lines listed in the last release. Most of the duties will come into force on December 15, and China's plans to reimburse U.S. auto and auto tariffs will also not be implemented by that time.
A report from Panjiva, a supply chain data company that is part of S&P Global Market Intelligence, indicated that the products in the group on September 1 may have been selected because these items had some re-supply and no further decline. The August 27 analysis found that US exports to the group on September 1 fell 15.2% in the second quarter from a year ago, down 20.4% on the December 15 group.
The increases are part of a $ 75 billion announcement by the Treasury on August 23 of US $ 75 billion in tariffs on US goods. Part of President Donald Trump's recent tariff increases also went into effect Sunday.
Essentially, all Chinese exports worth $ 550 billion to the United States are subject to customs clearance when a new round is held in December.