Section 301 Tariffs to be Implemented
The final list of products subject to the Section 301 tariffs, which will impact approximately $50 billion worth of Chinese goods, will be announced by June 15, 2018 and take effect “shortly thereafter.”
Last month, President Trump instructed the USTR to consider $100 billion in additional tariffs against China pursuant to Section 301. However, there have been no subsequent announcements regarding this second tariff list, which is rumored to cover, amongst other things, textiles, apparel, and footwear.
President Trump has also announced pending investment restrictions and enhanced export controls for Chinese persons and Chinese-controlled entities regarding “industrially significant technology,” the specifics of which will be announced by June 30, 2018.
China has pledged to impose retaliatory tariffs on U.S. exports in response to the Section 301 tariffs. China’s proposed list of covered products targets the U.S. transportation sector (vehicles, aircrafts, and vessels), vegetable products, plastics and rubber, chemicals, and mineral fuels.