Region: Asia, The Americas
President Trump raises tariff rates on Chinese imports
Increase comes in the wake of an announcement by China that it would impose tariffs on US goods
ARLINGTON, Virginia, 27 August 2019: President Donald Trump on August 23 announced that the United States would raise Section 301 tariff rates on products imported from China, after China’s announcement earlier the same day that it would impose tariffs on USD 75 billion worth of US goods, AHRI said through a Press release.
The United States will raise tariff rates according to the following schedule:
- Round 1 (USD 34 bn) will increase from 25% to 30% on October 1
- Round 2 (USD 16 bn) will increase from 25% to 30% on October 1
- Round 3 (USD 200 bn) will increase from 25% to 30% on October 1
- Round 4 List A (~USD 110 bn) will increase from 10% to 15% on September 1
- Round 4 List B (~USD 160 bn) will increase from 10% to 15% on December 15
According to the release, the Office of the United States Trade Representative (USTR) will publish a notice in the Federal Register in the coming days to formalize these announced tariff increases. AHRI said through the release that it will notify members via a separate alert.