The 10% tariff is being imposed against the items on List 4, starting from 1st September 2019. This is going to be the most impactful, because, it covers massive 4000+ HTS, including those that are related to consumer electronics and appliances. So an average consumer, I guess for the first time going to be affected by the trade war in US.
As well as a total worth of goods impacted by List 4 is a staggering $300 Billion or 55.10% of the total imports.
|List 1||List 2||List 3||List 4|
|Value||$34 Billion||$16 Billion||$200 Billion||$300 Billion|
And in a likely move, China has bit depreciated its currency against USD to support its exporters in the trade war, the currency depreciated from 6.88 to 7.02 against US dollar earlier today.
So the pace of this trade war is picking up steadily, and elsewhere, US administration has sanctioned a chinese company for importing oil from Iran1, further escalating the tensions between the two nations.