President Trump on August 1st, 2019 set to levy a 10% tariff on another $300 billion worth of Chinese imports starting September 1st, 2019 after U.S. and Chinese negotiators sputtered to an inconclusive end.

This is not the first round of imposed tariffs by President Trump has placed on China, this comes after roughly 250 billion worth of imported goods from China have already been imposed with a 25% tariff. China had retaliated giving orders to not purchase U.S. agricultural goods and intentionally devalued the Chinese yuan as a way to lessen the blow for them and lessen the rewards for the United States.

China’s consumer inflation rose to a 17-month high in July fueled by continued strength in food prices, with the devaluing of currency it’s likely the suffering will bear more with China than the U.S.

QUICK POINTS:

* Effects consumer goods from cellular mobile phones to things like children toys and computers

* Imposed tariffs at 10% start Sept. 1

* Roughly $250 billion of imports from China already subjected to a 25% tariff

* IMF has warned that tariffs already in place will shave roughly 0.2% off GEO in 2020

* China’s consumer inflation rose to a 17-month high in July