Us revises 50 billion tariff list the us trade

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US Revises $50 Billion Tariff List June 15, 2018 The US Trade Representative releases a revised list of products on which it plans to impose 25 percent tariffs, in two phases starting July 6, 2018. Compared with the original list proposed on April 3, 2018, the new $50 billion
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8 PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS TRADE AND INVESTMENT POLICY WATCH BLOG list targets even more intermediate inputs —95 percent of the products hit are now intermediate inputs or capital equipment used largely by American-based companies dependent on imports from China. The updated list still mostly misses imports from Chinese companies, based on 2017 data. Read “Trump, China, and Tariffs: From Soybeans to Semiconductors” by Chad P. Bown, Euijin Jung, and Zhiyao (Lucy) and “Revised Tariffs Against China Hit Non-Chinese Supply Chains Even Harder” by Mary E. Lovely and Yang Liang. China’s Revised Retaliation List June 15, 2018 China issues an updated $50 billion retaliation list of 25 percent tariffs. It targets roughly $45 billion of US exports to China in 2017, including a lot of agricultural and food products. China also plans a two-phase approach for this list, covering $34 billion of US goods starting July 6, 2018, including soybeans and vehicles. The remaining $16 billion of products would be covered later, likely pending the Trump administration’s proposed second phase of tariffs released June 15. Compared with China’s April 4 list, the country adds mineral fuels, some consumption goods, and medical equipment. Aircraft are taken off the list. Read “China’s Retaliation to Trump’s Tariffs” by Chad P. Bown, Euijin Jung, and Zhiyao (Lucy) Lu. Trump Asks for More Tariffs June 18, 2018 In response to China’s retaliatory tariffs announced June 15, 2018, President Trump directs the US Trade Representative to identify an additional $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent. This is on top of the $50 billion list of June 15. He also threatens another $200 billion of tariffs if China retaliates again. US and China Impose First Phase of June 15 Tariff Lists July 6, 2018 US tariffs on $34 billion of Chinese imports go into effect, the first phase of its June 15 $50 billion list. In parallel with President Trump’s tariffs, China’s tariffs on the first $34 billion of its $50 billion list of US imports also go into effect. USTR Announces $200 Billion Tariffs on China July 10, 2018 Following up on the June 18 request, the US Trade Representative releases a list of $200 billion of imports from China to be subjected to new 10 percent tariffs after public hearings in August. Intermediate goods, like computer and auto parts, make up 47 percent of the list. Consumer goods are more heavily targeted than in the previous June 15 list—including telephones, computers, furniture, lamps, and luggage. This list combined with the $50 billion list of June 15 would cover $250 billion of the roughly $504 billion of goods imported from China in 2017.
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