Next week both the US and China will impose tariff and physiological impacts alone is keeping market grounded. The US high end consumers already tightened their spending and the impact of high end consumer spending will show in the September data exasperated by impact of tariff on middle class consumer spending.
Starting September 1, U.S. tariffs on about half of $300 billion in Chinese imports will be taxed at 15%, with additional levies set to kick in on the other half on Dec. 15. Tariffs will also be raised on October 1 to 30%, from 25%, on an existing round of tariffs already in effect on $250 billion in Chinese goods.
Starting September 1, U.S. tariffs on about half of $300 billion in Chinese imports will be taxed at 15%, with additional levies set to kick in on the other half on Dec. 15. Tariffs will also be raised on October 1 to 30%, from 25%, on an existing round of tariffs already in effect on $250 billion in Chinese goods.
