The Office of the U.S. Trade Representative (USTR) has released notices for publication in the Federal Register to increase tariffs across almost all imports from China.
One notice would increase tariffs from 10% to 15% across approximately $263 billion worth of annual imports from China.
The notice is scheduled to be officially published on Aug. 30, and the 15% tariffs will be imposed in phases to take effect Sept. 1 and Dec. 15. These goods currently are not subject to tariffs.
Product groups on the Sept. 1 list include apparel, TVs and monitors, agricultural and livestock products, and metals, and the largest product groups on the Dec. 15 list include phones, laptops, toys/games and other apparel.
Analysts expect consumers to feel the impacts of these forthcoming tariffs.
Another notice would increase current 25% tariffs across approximately $250 billion worth of goods from China to 30% starting Oct. 1.
Trump tweeted the tariff increases on Aug. 23.
The USTR notices come after China’s State Council on Aug. 23 announced that it would increase tariffs on $75 billion worth of U.S. exports from 5% to 10%. That increase will be imposed in phases to take effect on Sept. 1 and Dec. 15.
“China’s most recent response of announcing a new tariff increase on U.S. goods has shown that the current [U.S. tariff] action being taken is no longer appropriate,” the USTR notice for the $263 billion tranche says. “The United States is engaging with China with the goal of obtaining the elimination of the acts, policies, and practices covered in the [Section 301] investigation.”
