Ships are docked at the Port of Long Beach, which handles a large portion of the goods shipped to the United States from China. (Marcio Jose Sanchez / Associated Press)
The Trump administration on Monday announced new tariffs on $200 billion of Chinese imports, a sharp escalation of its trade fight with China that will also exact costs on a wide range of American businesses and consumers.
The new tariffs, to take effect next Monday, would initially be set at 10% but climb to 25% in the new year. With Trump already having slapped 25% tariffs on about $50 billion of Chinese goods, the United States by next week will have imposed significant taxes on about half of all Chinese merchandise entering American borders.
