17 sept. 2018 - (25) US & China announce increased tariffs

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September 17, 2018: President Trump formerly announced to take the Section 301 action against another $200 billion worth of imports from China. The additional tariffs will be effective starting September 24, 2018, and initially will be in the amount of 10 percent. Starting January 1, 2019, the level of the additional tariffs will increase to 25 percent. The $200 billion imports from China targeted include 5,745 full or partial lines of the original 6,031 tariff lines that were on a proposed list of Chinese imports announced on July 10, 2018. Included among the products removed from the original proposed list are certain consumer electronics products such as smart watches and Bluetooth devices; certain chemical inputs for manufactured goods, textiles and agriculture; certain health and safety products such as bicycle helmets, and child safety furniture such as car seats and playpens. However, the final $200 billion product list still includes about 20% consumer products (v.s. only 1% in the $50 billion already subject to the 25% additional tariff), 50% intermediary goods and 30% capital goods. Notably, several textile and apparel-related products such as backpacks, handbags, purses, wallets, baseball gloves, hats and leather, and fur apparel, as well as textiles and machinery that are used for domestic manufacturing are targeted. Shortly after the announcement of the new tariff, leading U.S. fashion and apparel industry associations expressed their deep disappointment. On September 18, China announced to put its own retaliatory tariffs on approximately $60 billion American goodseffective September 24, 2018. Specifically, 2493 tariff lines in list 1 and another 1078 tariff lines in list 2 will be subject to a 10% additional tariff. 974 tariff lines in list 3 and 662 tariff lines in list 4 will be subject to a 5% additional tariff.

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