Over the weekend, Donald Trump announced a new round of tariffs on China. In an escalation of an ongoing trade war between the United States and China, Trump has seen fit to instill a 25% tariff on future Chinese imports. While most affected imports include industrial goods that are used for mass production, over a quarter of the affected imports have to do with trade goods such as sporting equipment, electronics, and prepared foods. This represents more than $300-million worth of imported products. China responded this morning by saying they'd fight the tariffs and imposed further penalties on American goods in China, according to the CBC. The latest tariff list includes some 3,805 product categories and while Canada won't feel the pinch as soon as the States, Canadian consumers should expect this latest round of tariffs to affect us as early as this summer. Previously, the U.S. imposed a 10% tariff on Chinese imports. Trump decided that a 25% tariff is now necessary, for some reason. In June, Chinese and American officials will meet up and discuss how they'll proceed for the rest of the year. View this post on Instagram Great to welcome Chairman Shin from Lotte Group to the WH. They just invested $3.1 BILLION into Louisiana-biggest investment in U.S. EVER from a South Korean company, & thousands more jobs for Americans. Great partners like ROK know the U.S. economy is running stronger than ever! A post shared by President Donald J. Trump (@realdonaldtrump) on May 13, 2019 at 2:55pm PDT The Trump administration has so far strategically excluded the component parts of iPhone products for example, but other electronics such as laptops, MP3 players, DVD players, and video game consoles aren't excluded from the tariff list. A tariff is a tax that's imposed on certain products. While many imported goods are subject to tariffs, they've historically been minimal and associated costs are often absorbed by the companies. Now though, consumers should expect that companies will turn the cost to them. I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, & you backed out!— Donald J. Trump (@realDonaldTrump) May 13, 2019 Trump ranted on Twitter that China would pay for the tariffs and that they would "hurt very badly" if they don't make a good deal. I struggle to remember if Trump has ever negotiated a "good deal", but hey. READ ALSO: This Insane $40,000,000 Mansion Is The Most Expensive Home For Sale Right Now In Montreal (Photos) How will this affect Canadians? For one, electronics and sporting goods will be more expensive. But where we'll feel it the most is at the grocery store. Everything from seafood to blueberries will potentially be more expensive. China buys MUCH less from us than we buy from them, by almost 500 Billion Dollars, so we are in a fantastic position. Make your product at home in the USA and there is no Tariff. You can also buy from a non-Tariffed country instead of China. Many companies are leaving China.....— Donald J. Trump (@realDonaldTrump) May 14, 2019 Though Canada hasn't imposed any tariffs of its own on China, many products that come via the U.S. border will have Trump's 25% tariff already on them. Couple that with our high Canadian sales tax and we've got a match made in hell. Here's a brief rundown of what will be more expensive: Vegetables: imported onion, garlic, cabbage, broccoli, cucumbers, beans, lentils, mushrooms, tomatoes, peppers, and more. Meat and seafood: imported pork, venison, rabbit, live fish (including trout, salmon, tuna, halibut, whitefish, etc), prawns, shrimp, oysters, lobsters, prepared canned seafood, and more. Fruits and nuts: imported coconuts, mangoes, guavas, bananas, pineapples, peaches, oranges, and more. Imported canned and processed foods such as pasta and condiments. Rice wine, juice mixes, mineral water, malted beer and wine. Cat and dog food, animal feed. To consult the complete list of affected products, click here. View this post on Instagram TOGETHER, WE ARE MAKING AMERICA GREAT AGAIN! A post shared by President Donald J. Trump (@realdonaldtrump) on Mar 12, 2019 at 8:42pm PDT Let's hope that agreements in June between China and the U.S. go well because Canadians don't deserve to pay more for the mistakes of the American government. Trump has just imposed a 25% tariff on Chinese imports. This means that Canadians will be charged more for everyday products like electronics and groceries. Trade talks between the U.S. and China will continue in June. Source 1 || Source 2 || Source 3 || Source 4
