Trade Wars: Major US Tariff Actions, Retaliatory Measures Since January 2018
US President Donald Trump said on Sunday he would raise tariffs to 25 per cent from 10 per cent on $200 billion of Chinese imports by the end of the week.
Mr Trump has rattled the world trade order by imposing unilateral tariffs to combat what he calls unfair trade practices by China, the European Union and other major trading partners of the United States.
The US government hit China with the most extensive tariffs, starting a trade war between the world's two largest economies. Beijing has retaliated with tariffs on imports from the United States.
Neither of the sides has raised tariffs since Mr Trump and Chinese President Xi Jinping met in Argentina in November 2018 and agreed to a truce while their teams negotiated an end to the trade war.
Here is a rundown of major US tariff actions and retaliatory measures since January 2018:
US tariffs on China
- 25 per cent tariffs on $50 billion worth of Chinese technology goods including machinery, semiconductors, autos, aircraft parts and intermediate electronics components imposed on July 6 and Aug. 23 as part of "Section 301" probe into China's intellectual property practices.
- 10 per cent tariffs on $200 billion worth of Chinese goods including chemicals, building materials, furniture and some consumer electronics, imposed on September 24 as a response to Chinese retaliation. The levy on these imports is scheduled to increase on increase to 25 per cent on May 10.
- Mr Trump said on Sunday he would impose tariffs on an additional $325 billion worth of Chinese goods. The US imported just under $540 billion of Chinese goods in 2018. So tariffs on $325 billion on top of the $250 billion of goods already subject to the import tax would likely cover all 2019 imports- including cell phones, computers, clothing, footwear and other consumer products.
Chinese tariffs on the US
- 25 per cent tariffs on $50 billion worth of US. goods including soybeans, beef, pork, seafood, vegetables, whiskey, ethanol, imposed on July 6 and August 23 in retaliation for initial rounds of US tariffs. China has suspended a 25 per cent duty on US auto imports during their trade negotiations. Beijing has resumed some purchases of US soybeans but has not formally suspended those tariffs.
- Tariffs of 5 per cent to 10 per cent on $60 billion worth of US goods, including liquefied natural gas, chemicals, frozen vegetables and food ingredients, imposed on September 24.
- Based on 2018 US Census Bureau trade data, China would only have about $10 billion in US imports left to levy in retaliation for any future US tariffs. Retaliation could come in other forms, such as increased regulatory hurdles for US companies doing business in China.
US global tariffs
- 25 per cent tariffs on imported steel and 10 per cent tariffs on imported aluminum, imposed on March 23, 2018 on national security grounds. Exemptions have been granted to Argentina, Australia, Brazil and South Korea in exchange for quotas, and negotiations over quotas continue with Canada, Mexico and the European Union.
- 20 per cent to 50 per cent tariffs on imported washing machines, imposed on January 22, 2018 as a "global safeguard" action to protect US producers Whirlpool Corp and GE Appliances, a unit of China's Haier Electronics Group Co Ltd.
- 30 per cent tariffs on imported solar panels, imposed on January 22, 2018 as a "global safeguard" action to protect US producers Solar World, based in Germany, and Suniva, owned by China's Shunfeng International Clean Energy Ltd.
- Mr Trump is considering tariffs of around 25 per cent on imported cars and auto parts, based on a US Commerce Department study of whether such imports threaten US national security. The new US-Mexico-Canada Agreement protects Canadian and Mexican production in the event of such tariffs through a quota system. Mr Trump has pledged not to impose auto tariffs on Japan and the European Union while trade negotiations with those partners are underway.
Canadian tariffs on the US
- Canada on July 1 imposed tariffs on $12.6 billion worth of US goods, including steel, aluminum, coffee, ketchup and bourbon whiskey in retaliation for US tariffs on Canadian steel and aluminum.
Mexican tariffs on the US
- Mexico on June 5 imposed tariffs of up to 25 per cent on American steel, pork, cheese, apples, potatoes and bourbon, in retaliation for US tariffs on Mexican metals.
European Union tariffs on the US
- The European Union on June 22 imposed import duties of 25 per cent on a $2.8 billion range of imports from the United States in retaliation for US tariffs on European steel and aluminum. Targeted US products include Harley-Davidson motorcycles, bourbon, peanuts, blue jeans, steel and aluminum.
Indian tariffs on the US
- India, the world's biggest buyer of US almonds, on June 21 raised import duties on the nuts by 20 per cent and increased tariffs on a range of other farm products and US iron and steel, in retaliation for US tariffs on Indian steel.
- Mr Trump said last month that he would end preferential trade treatment for India, which would result in US tariffs on up to $5.6 billion of imports from India. If that happens, India is expected to retaliate with tariffs on US goods.
