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CargoTrans

Trump declares "I’m ready to go to 500"

Trump has been reported to have said: "I’m ready to go 500" – indicating tariffs on almost all Chinese exports to the U.S., which last year totaled $505 billion.

On August 7, 2018, the United States Trade Representative (USTR) released a final list of approximately $16 billion worth of imports from China that will be subject to a 25 percent additional tariff. The list contains 279 of the original 284 tariff lines that were on a proposed list announced on June 15.

Update: The five tariff items that were excluded from the final List 2 are:
  • 3913.10.00 - Alginic acid, and its salts and esters, in primary forms.
  • 8465.96.00 - Splitting, slicing or paring machines for working wood, cork, bone, hard rubber, hard plastics or similar hard materials.
  • 8609.00.00 - Containers (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport.
  • 8905.90.10 - Floating docks.
  • 9027.90.20 - Microtomes.

On August 8, China released its list of retaliatory tariffs on $16 billion in U.S. goods. This was in direct response to the USTR’s announcement on August 7 of the final List 2 of Section 301 tariffs on $16 billion in Chinese imports. The Chinese Ministry of Finance’s list released today includes an additional 219 tariff items that were added to the list China originally released back in June. Both the U.S. and China are setting tariff rates at 25% for this second tranche of goods and plan to implement the duties on August 23.

Please contact our Compliance Team with any questions or concerns and we will immediately assist.

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