Thread by @PIIE

THREAD: As the trade war drags on, there will be two more rounds of tariffs on imports from China, first on September 1, then on December 15. Here are five things you need to know... (1/7)

1. Trump’s latest escalation will drive up the average US tariff on Chinese imports from its current level of 18.3% to 20% on September 1. The December 15 tariffs will ratchet up average US tariffs on imports from China to 21.4%. (2/7)

2. The September 1 tariff round will directly affect many consumer goods for the first time. Footwear, clothing, and textiles constitute more than a third of the value of the new targets. (3/7)

3. The December 15 tariff round will hit consumer electronics for the first time. More than two thirds of the value of products on that list include mobile phones, smartwatches, video game consoles, computer monitors, and Christmas ornaments. Toys will also be hit hard. (4/7)

4. The 2 rounds of tariffs may be to avoid the peak holiday shopping season. October is a pivotal month for US importers stocking toys/consumer electronics for #BlackFriday/#CyberMonday. October is also the peak import month for the products on the December 15 tariff list. (5/7)

5. December 15 will mark nearly all imports from China to be covered by tariffs - *96.8%* of all goods imported from there. This level of special protection has been unmatched for decades. (6/7)

Despite the record of flip-flopping on tariffs in the last few months, all signs point to Trump following through on these next tariffs on Chinese imports. There is no good news to these announcements. Read the entire piece by @ChadBown here: (7/7)
piie.com/blogs/trade-an…