By SEMA Washington, D.C., Staff
President Trump announced that he will impose 10% tariffs on September 1 on the remaining $300 billion worth of Chinese goods not already subject to 25% tariffs. The so-called “List 4” products cover a wide range of finished consumer products such as electronics and clothes.
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. The most recent trade talks reportedly did not yield significant results. Additionally, President Trump maintains that China has not lived up to its commitment to increase its purchase of agricultural products from the U.S. in large quantities. The next round of U.S.-China negotiations are scheduled for September.
The U.S. has already imposed 25% tariffs on three separate groups of Chinese imports. The so-called “List 3” imports cover about $200 billion worth of goods, including most auto parts, from engines and metal fasteners to tires and brake pads. “List 1” and “List 2” goods are valued at $50 billion and include some miscellaneous metal and rubber parts for auto equipment, machinery, tools and measurement devices.
For more information, contact Stuart Gosswein at stuartg@sema.org.