U.S. businesses paid an additional $2.7 billion in tariffs in November 2018, an increase from the $375 million in tariffs paid on the same products in November 2017, according to data compiled by the anti-tariff organization Tariffs Hurt the Heartland.
U.S. businesses paid an additional $2.7 billion in tariffs in November 2018, an increase from the $375 million in tariffs paid on the same products in November 2017, according to data compiled by the anti-tariff organization Tariffs Hurt the Heartland.
In September 2018, the Trump administration imposed 10 percent tariffs on $200 billion worth of Chinese goods, including hardwood flooring, and China retaliated with tariff increases of its own. In November 2018, U.S. export levels dropped 37 percent or by $4.1 billion for products facing retaliatory tariffs from China, according to the report.
The U.S. has threatened increasing its imposed tariffs to 25 percent, but President Trump announced Feb. 24 that he would further delay a March 1 deadline to reach a trade agreement with China.
