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.Next Phase of Tariffs Goes into EffectSeptember 24, 2018US tariffs on $200 billion of Chinese imports announced on September 17 take effect, along with retaliatory tariffs by China on $60 billion of US imports announced on September 18. The United States now has tariffs on 12 percent of its total imports during 2018, while the combined trading partner retaliation covers of total US exports.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.US-China Tariff TruceDecember 1, 2018After the G-20 meeting in Buenos Aires, Presidents Trump and Xi announce a deal to halt the escalation of tariffs that were expected in January while they negotiate over trade concerns. However, because there is no joint state-ment, and some disagreement between the statements of the White House and Chinese state media, details remain murky. The US statement says that if no agreement is reached by March 1, 2019, the 10 percent tariffs will be raised to 25 percent.Almost 15 Percent of US Imports Are Now Protected February 15, 2019In 2018, Trump’s actions combined with already existing tariffs have resulted in 14.9 percent of US goods imports covered by some form of trade protection, based on 2017 import data. Trump’s actions alone covered $303.7 billion, or 12.6 percent. Some products are being hit by multiple tariffs. China, Canada, the European Union, South Korea, and Mexico are the biggest targets.
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11PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICSTRADE AND INVESTMENT POLICY WATCH BLOGTariff Increase DelayedFebruary 24, 2019President Trump announces via Twitter that he will delay the tariff increase on $200 billion of imports from China that had been scheduled to go into effect on March 1, 2019. The 10 percent tariffs would have been raised to 25 percent.Concerns Emerge over Possible Deal April 2019In the weeks leading up to a potential deal with China, the media reports that the US-China tariffs will not be lifted by any agreement. Statements from US business interests and labor unions also indicate the potential deal may contain few Chinese commitments to curb industrial subsidies, a key request by the Trump administration.Read “Will a US-China Trade Deal Remove or Just Restructure the Massive 2018 Tariffs?” by Chad P. Bown and Eva (Yiwen) Zhang and “Five Things to Look for in Any Trump-China Deal on Subsidies” by Chad P. Bown.Trump Renews Tariff ThreatsMay 5, 2019In a sudden reversal during the US-China trade negotiations, President Trump tweets (later officially confirmed) that the United States will increase the 10 percent tariff on $200 billion of imports from China to 25 percent on May 10, 2019. He also indicates he will “shortly” impose 25 percent tariffs on the rest of US imports from China not yet targeted with his Section 301 tariffs, which he states are “325 Billions Dollars” and would mostly hit final consumer products such as toys, footwear, clothing, and electronics.
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