What’s the Status of U.S. Tariffs on Chinese Imports?
Trade tensions between the United States and China have led to a series of tariff increases and tariff threats by both countries since July 2018. The United States implemented its latest round of tariff increases on Chinese products on September 1, 2019, when additional tariffs of 15% on approximately $125 billion of Chinese imports took effect. Further U.S. tariff increases are planned for October and December 2019 amid ongoing trade negotiations. If the scheduled increases take effect, tariffs will cover virtually all of the approximately $550 billion in annual imports from China, leading to increased costs for U.S. companies and consumers.
With the ongoing changes in U.S. tariffs and trade policy, firms should consider how these actions could impact their supply chains and input costs. To do so, they must first understand the current tariffs on Chinese imports and stay informed of changes in tariffs and trade policy.
Trade tensions between the United States and China have led to a series of tariff increases and tariff threats by both countries…