Updated on 8/17/18 to include the China 301 List 2 translated into English.
On August 8, The Office of the United States Trade Representative (USTR) released the finalized 2nd list of approximately $16 billion worth of Chinese imports subject to an additional 25% tariff. Customs and Border Protection will begin collecting the additional duties on August 23.
Changes to the proposed list were made after the USTR and the Section 301 Committee reviewed testimony and written statements during a two-day public hearing in July. The finalized list contains 279 tariff lines of goods imported from China, down from 284 on the list originally proposed on June 15. The tariffs will mostly apply to industrial equipment, tractors, semiconductors, electronic integrated circuits, and measurement equipment such as speedometers. Click here to view the final 2nd tariff list.
In response, the Chinese Ministry of Commerce announced a 25% tariff on $16 billion worth of U.S. goods, which will go into effect on the same day, August 23. The 333 targeted goods include petrochemicals, medical equipment, fiber optic cables, cars, and steel and plastic products. The list of good can be found by clicking here.
Analysts warn that a prolonged trade war between the U.S. and China could end up costing the global economy billions of dollars, hurting both businesses and consumers, although the initial impact of the tariffs has been tame so far.