- In June, President Trump announced that the US planned to levy a 25% tariff on $US50 billion worth of Chinese-imported products.
- There’s two rounds of tariffs taking place, the first of which goes into effect on Friday.
- The second round of tariffs doesn’t have an implementation date yet, but it could impose a 25% tax on products associated with e-cigarette company Juul and e-bike startup Bird as early as next week.
Electric scooters, e-cigarettes, and e-bikes might be getting more expensive in the near future.
In June, President Trump announced that the US planned to levy a 25% tariff on $US50 billion worth of Chinese-imported products.
The first round of tariffs, which affects nearly 1,000 products including smart-home devices, electric motors, and navigation devices, comes into effect on Friday.
There’s a second round of tariffs in the works, as well – and it might have a punishing effect on some of the hottest startups in venture capital. Currently, there’s no implementation date on the second round of tariffs, but the Financial Times speculates that it could go into effect as early as next week.
If the 25% tax is imposed against these products, then prices on products produced by millennial-beloved startups like e-cigarette company Juul, e-scooter company Bird, and electric bike company Jump might skyrocket in the near future.
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