The United States Trade Representative (USTR) has proposed another $50B worth of 25% tariffs on China imports, to which China has responded with 25% tariffs on another 106 American products.
The newest U.S. tariffs will impact some 1,300 Chinese products, including medical devices, batteries and machine tools, as well as some consumer products like television sets. They “would target products that benefit from China’s industrial plans while minimizing the impact on the U.S. economy,” said the office of the U.S. trade representative, Robert Lighthizer.
China’s latest tariffs, designed to affect up to $50B worth of goods annually, will hit such U.S. products as cars, planes, whisky, chemicals and soybeans. The moves follow China’s Monday retaliatory tariffs on $3B worth of U.S. imports to its country, which themselves were a response to the Administration’s tariffs on Chinese aluminum and steel.
The trade actions will not be carried out immediately, so there may be room for maneuver. Publication of Washington’s list on Tuesday started a period of public comment and consultation expected to last around two months. The effective date of China’s moves depends on when the U.S. action takes effect.
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