By SEMA Washington, D.C., Staff
President Trump directed the U.S. government to impose 25% tariffs on $50 billion worth of Chinese imports. The tariffs are an attempt to lower the U.S./China trade deficit and to deter cybertheft of intellectual property by Chinese government and companies.
The United States Trade Representative (USTR) has created two lists for products covered under the tariffs. On July 6, Customs will begin collecting duties on about $34 billion worth of products under the 818 Harmonized Tariff Code listings.
The subject product list includes miscellaneous metal and rubber parts for auto equipment, machinery, tools, measurement and medical devices.
The USTR has not yet finalized the second list covering the other $16 billion worth of products. The list covers 284 tariff categories, including many types of plastics.
China announced that it will impose tariffs on $50 billion in U.S. goods, including soybeans, aircraft and autos. In response, President Trump directed the USTR to identify $200 billion worth of Chinese goods that will be subject to 10% duties.
For more information, contact Stuart Gosswein at firstname.lastname@example.org.