If implemented, the tariffs will affect approximately $300 billion worth of goods from China in yearly import value.
The Office of the U.S. Trade Representative will “shortly” publish a notice in the Federal Register setting forth the public notice and comment process to raise tariffs on essentially all remaining non-tariffed goods from China, U.S. Trade Representative Robert Lighthizer said in a statement Friday.
Lighthizer said the details will be on the USTR website Monday as the agency begins a process prior to a final decision of whether to raise tariffs.
USTR on Friday raised tariffs across $200 billion worth of goods from China from 10% to 25% as progress in trade talks between the U.S. and China has slowed, according to U.S. officials.
China will retaliate against $60 billion worth of imports from the U.S. starting June 1, according to an unofficial translation of a statement by China’s Finance Ministry. Tariffs will range from 5% to 25% and will affect a total of 5,140 goods from the U.S.
A Chinese delegation led by Chinese Vice Premier Liu He visited Washington, D.C., Thursday and Friday to continue trade talks, which included frank and constructive consultations between the two sides, Liu told reporters, according to an unofficial translation of an announcement by the Chinese Finance Ministry.
But Liu said China will never give in on major issues of principle, and China has three core concerns that must be resolved: All tariffs must be canceled; the two sides should approach trade purchases in line with a consensus they reached during a winter meeting in Buenos Aires; and the balance of the agreement’s working text must be improved.
The number of trade purchases must align with reality, Liu said, according to the translation.
Before removing Section 301 tariffs — which currently affect $250 billion worth of imports from China — the U.S. is seeking commitments by China for several structural economic reforms, including in the areas of technology transfer, intellectual property and state-owned enterprises.
The U.S. imported approximately $550 billion worth of goods from China in 2018.
