By SEMA Washington, D.C., Staff
The U.S. Trade Representative has extended from June 1 to June 15 the 10% tariff rate for “List 3” products shipped from China before the tariffs were raised to 25% on May 10. The extension allows for a lengthy transit time between China and the United States.
The so-called List 3 group of Chinese imports covers about $200 billion worth of goods including many auto parts, from engines and metal fasteners to tires, steering wheel components, rubber gaskets, transmission belts, brake pads, windshields and suspension springs. The Trump Administration had already imposed 25% tariffs on $50 billion worth of Chinese imports in July and August 2018. “List 1” and “List 2” goods include some miscellaneous metal and rubber parts for auto equipment, machinery, tools and measurement devices.
China has imposed retaliatory tariffs on $60 billion worth of U.S. goods. Most of these levies are now at 10%, 20% and 25% and include many agriculture products. A few categories including vehicle parts are at 5% levels.
U.S. and Chinese officials are negotiating six separate trade documents covering agriculture, services, non-tariff barriers, currency, intellectual property rights and forced technology transfers, and cybersecurity. If talks break down further, President Trump has threatened to impose 25% tariffs on the remaining $325 billion worth of “List 4” Chinese products as soon as the end of June. Public comments on the List 4 tariffs are due June 17.
For more information, contact Stuart Gosswein at email@example.com.