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200 Billion Tariffs In Sino-us Trade War 2018
Kinghood International Logistics Inc | Updated: Sep 28, 2018

The $200 billion tariff came eventually.President trump officially announced the decision after the stock market closed on the afternoon of September 17.

Trump said he would impose 10 percent tariffs on 200 billion products made in China, effective sept 24.This rate is in effect until the end of the year.The tax rate will be raised to 25% from jan 1, 2019.

That $200 billion includes all of China's seafood exports to the United States, including Alaskan salmon, cod and halibut, which are imported and reprocessed from the United States.

Against the us new tariff, China's ministry of commerce as early as August 3 has said that for the United States for violating international obligations for China caused by emergency, to defend China's own legitimate rights and interests of the Chinese government on the basis of the foreign trade law of the People's Republic of China "and other laws and regulations and the basic principles of international law, 5207 items on us about $60 billion in merchandise, imposing tariffs ranging from 25% to 5%.Final measures and effective time will be announced separately.

China's tax list covers a wide range of products from food to household goods and production materials, including meat, seafood, berries, coffee and tea imported from the United States, household goods such as folding umbrellas, shoes, hats, kitchen supplies, and production materials such as glass and stainless steel.

The list of goods worth $200 billion covers 6,031 items, accounting for 38% to 46% of China's total exports to the United States in 2017.

The $200 billion list of products dates back to July 10.The United States trade representative's (USTR) office released a 195-page list of $200 billion in products, ranging from high-end manufacturing industries like semiconductors, chemicals, pharmaceuticals, electrical and electrical equipment to low-end manufacturing industries like wood products and consumer goods like food and furniture.

At the time, the U.S. trade representative's office said it would impose a 10 percent tariff, and on August 1 said it was considering raising the tariff rate to 25 percent.

To that end, the office of the United States trade representative (USTR) held a six-day hearing at the end of August, which ended on September 6 with more than 6,000 comments, most of which businesses and associations opposed the tariffs.

It is important to note that in this tariff list, Chinese seafood to the United States will not be spared.

Despite the fact that four trade associations, including the national fisheries association (NFI), the Marine processing association (APA), the Alaska Marine market association (ASMI) and the Groundfish Forum (Groundfish Forum), representing hundreds of American fishing companies and tens of thousands of practitioners, sent letters to USTR expressly opposing the us administration's imposition of tariffs on Chinese aquatic products.

The biggest impact of the tariff imposed by the United States on Chinese goods is that some companies that process goods in China and export to the United States. With the tariff threat from the United States and the counterattack from China, they are now under pressure, with rising costs and inevitable decline in market share in China.

Now that the effects of trade wars are spreading and starting to filter into People's Daily lives, opposition naturally runs high.

In unveiling the 2000 tariff list, Mr Trump also went further, threatening immediate "phase three" tariffs on about $267bn of Chinese products if China retaliated against us farmers or other industries.

If true, that would mean that the United States would impose tariffs on all imports from China that it counted last year.

For a period of time, the us has seriously violated wto rules and continuously introduced unilateral measures, which has led to the continuous escalation of sino-us trade frictions. This has not only harmed the interests of Chinese and American businesses and consumers, but also damaged the security of the global value chain and industrial chain.If the us side ACTS arbitrarily and takes any new tariff measures against China regardless of the opposition of the vast majority of enterprises in the opinion, China will have to make necessary countermeasures.At the same time, China reiterates once again that any pressure measures are unreasonable and ineffective for China.A trade war will not solve any problem. Only dialogue and consultation on an equal and honest basis is the right choice to resolve china-us trade frictions.

After the United States announced its plan to impose tariffs on $200 billion of Chinese imports, China announced on Aug. 3 its countermeasure to impose tariffs on some $60 billion of U.S. imports. The list of goods has been released.If the us side ACTS arbitrarily, China will take necessary countermeasures according to the us action.

At the same time, China will pay close attention to the impact of the tariffs and take effective measures to help Chinese and foreign companies operating in China overcome difficulties.We have the confidence, ability and means to maintain steady and sound growth of the Chinese economy.

While Mr Trump brandished his trade cudgel, China's commerce ministry confirmed it had received an invitation from the us for new round of trade talks.A senior trump administration official said the Chinese and American delegations were still in contact, but no specific information on the negotiations had been released.The us side has continuously escalated china-us trade frictions regardless of the voice of the general industry and consumers. Such action of putting pressure on China has no effect on China and will not help resolve the issue.If the us side wants to negotiate, it must do so through equal and honest dialogue and consultation.


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