By SEMA Washington, D.C., Staff
President Trump directed that 25% tariffs already being imposed on $250 billion worth of Chinese goods be increased to 30% on October 1. The subject goods have been divided into three separate groups. The so-called “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. “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 4 imports are scheduled to go into effect on September 1 and December 15 on an estimated $112 billion and $160 billion worth of Chinese goods, respectively. Originally targeted as 10% tariffs, they will now be 15% tariffs when imposed. The List 4 products cover a wide range of finished consumer products such as cell phones, laptops, computer monitors, video game consoles, and certain toys, footwear and clothing.
All the tariffs are being imposed as an incentive for U.S. and Chinese officials to negotiate 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 have not yielded significant results.
For more information, contact Stuart Gosswein at firstname.lastname@example.org.