US Collecting Record Amounts in Tariffs on ‘Made in China’ Goods

The Trump Trade Policy is Working

 Collected a Record $7-B in Tariffs in September

Tariff revenue rose 9% from August and was up more than 59% from a year earlier.

The US collected a record $7-B in import tariffs in September, fresh figures show, as new duties kicked in on apparel, tools, electronics and other consumer goods from China.

Tariff revenue jumped 9% from August and was up more than 59% from a year earlier.

The revenue is a bounty for the US Treasury, but is an increasing burden on the American businesses that import Chinese products, and customers who buy Made in China goods.

The new figures are based on an analysis of official US Commerce Department data compiled by Trade Partnership, an economic consulting firm.

The sharp rise was driven by a new 15% levy on consumer goods that went into effect on 1 September. Imports of these items were valued at $111-B last year, according to an analysis by the WS-J.

The US has always collected tariffs on some items, but those duties have soared under a series of new levies that President Trump ordered on Chinese imports beginning last year. He said the duties were needed to get China to curtail trade practices that penalize US businesses.

The rising cost of the tariffs has increased pressure from business groups to resolve the trade dispute.

The Trump Administration is considering removing some of the tariffs against China as part of the negotiations over “Phase 1” of a US-China trade deal.

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