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Read “Trump, China, and Tariffs: From Soybeans to Semiconductors” by Chad P. Bown, Euijin Jung, and Zhiyao (Lucy) Lu. China Revises Its $50 Billion Tariff List, Removing Crude Oil August 8, 2018 China revises the second tranche of its June 15 list of $50 billion of imports from the United States with which it planned to impose 25 percent tariffs. Crude oil was removed and replaced with a number of other products. The tariffs on the revised list, covering $16 billion of imports from the United States, are expected to go into effect as soon as the Trump administration’s second tranche of its June 15 tariff list is imposed on August 23. US Passes Law on Trade and National Security August 13, 2018 Trump signs the John S. McCain National Defense Authorization Act For Fiscal Year 2019 into law, which contains two key provisions on monitoring some foreign investments in the United States (FIRRMA) and outbound trans- fers of technology (ECRA). Read “Worst Case Averted on Foreign Investment Reviews” by Martin Chorzempa.
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10 PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS TRADE AND INVESTMENT POLICY WATCH BLOG US and China Impose Second Phase of $50 Billion Tariffs August 23, 2018 The Trump administration followed through with imposing tariffs on $16 billion of imports from China, the second phase of the revised $50 billion list released June 15. China immediately responded with its own revised tariffs on $16 billion of US exports, also announced on June 15. These actions complete each country’s first $50 billion of tariffs originally announced in April . Read “Trump, China, and Tariffs: From Soybeans to Semiconductors” by Chad P. Bown, Euijin Jung, and Zhiyao (Lucy) Lu and “More than Soybeans: Trump’s Section 301 Tariffs and China’s Response” by Chad P. Bown. Trump Finalizes $200 Billion Tariff List September 17, 2018 President Trump finalizes the list of products on $200 billion of imports from China that will be subject to a 10 percent tariff that goes into effect on September 24. Trump also announced the rate will increase to 25 percent on January 1, 2019. Of the newly targeted imports, 50 percent are intermediate goods, like computer and auto parts, but 24 percent are consumer goods, up from the 1 percent of consumer goods targeted in the previous tariff phase. Products dropped from the original July 10 proposed list include bedsheets and gloves, along with, reportedly , smartwatches. Read “Trump and China Formalize Tariffs on $260 Billion of Imports and Look Ahead to Next Phase” by Chad P. Bown, Euijin Jung, and Zhiyao (Lucy) Lu. China Finalizes Tariffs on $60 Billion of US Goods September 18, 2018 China announced its plan to place tariffs on $60 billion of US exports if Trump goes ahead with his recently final- ized tariffs on $200 billion of Chinese exports. These tariffs are mainly on intermediate inputs and capital equip- ment, and range from 5 to 10 percent, down from the 5 to 25 percent originally announced.
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