U.S., China mobilize for trade war round two (From American Shipper)
Both countries released lists for planned tariffs to take effect Aug. 23, which would bring the total to $50 billion in tariffs imposed by each country. The Office of the U.S. Trade Representative on Tuesday evening finalized a second tranche of 25 percent tariffs to be imposed on China following Section 301 of the Trade Act of 1974, deleting intermodal shipping containers and four other tariff lines from an initial list of 284 tariff subheadings spanning $16 billion in 2017 import value.
China responded in kind Wednesday morning, releasing a list of U.S. goods it would impose 25 percent retaliatory tariffs on, commensurate with the United States’ $16 billion worth of tariffs.
Both countries will activate the tariffs on Aug. 23. In the United States’ case, collections by U.S. Customs and Border Protection on the $16 billion will start on that date, according to USTR. For more info, please go to https://www.americanshipper.com/main/fullasd/us-china-mobilize-for-trade-war-round-two-72229.aspx
Ed. Note: The list of affected HTS numbers are attached. The USTR deleted 5 lines on the attached list as follows: intermodal shipping containers (HTS 8609.00.00); certain machines to split, slice or pair wood, work, bone, plastics and similar hard materials (HTS 8465.10.00); alginic acid (HTS 3913.10.00); microtomes (HTS 9027.90.20); and floating docks (HTS 8905.90.10)
Contact us with any questions.
Lee Hardeman LeeH@LHCB.com Direct: 404-477-3452
Sandy Cato SandyC@LHCB.com Direct: 404-477-3454
Brittany Albaneso BrittanyA@LHCB.com Cell: 404-401-5950
If you do not wish to continue to receive our newsletter, please email me at leeh@lhcb.com and put “Unsubscribe” in the subject line.