WASHINGTON, DC and BEIJING, CHINA - The Trump administration’s 25 percent tariffs on $16 billion in goods went into effect today—at midnight ET Thursday August 23. The new round of tariffs will affect 279 Chinese products.
“The list contains 279 of the original 284 tariff lines that were on a proposed list announced on June 15,” said the Office of the United States Trade Representative, in a statement. “Changes to the proposed list were made after USTR and the interagency Section 301 Committee sought and received written comments and testimony during a two-day public hearing last month. Customs and Border Protection will begin to collect the additional duties on the Chinese imports on August 23.”
China responded immediately with its own 25 percent retaliatory tariff, releasing as statement at 12:01 a.m. ET that, according to an NPR report, vowed to “make the necessary counterattacks.”
U.S. tariffs will largely affect chemicals, semiconductors, plastics, and transportation products—including motorcycles and railway cars—but also ag products including “seeders, planters and transplanters, nesoi” and “fertilizer distributors.” Retaliatory tariffs on U.S. exports to China will affect diesel fuel, coal, medical instruments, and cars.
According to the Office of the United States Trade Representative, this is the second tranche of additional tariffs, with the first tranche of tariffs on approximately $34 billion of imports from China having gone into effect on July 6.
Will the escalating trade row between the U.S. and China imperil our industry? AndNowUKnow will continue to report.
