Source: Susan Kelly, MEATINGPLACE, 6/15/18


The Office of the United States Trade Representative (USTR) on Friday released a list of products imported from China that will be subject to 25 percent tariffs, prompting China’s Ministry of Commerce to announce it will respond in kind.

President Donald Trump first threatened the tariffs in March, but recent trade negotiations between the two countries had raised hopes that a trade war could be avoided. The U.S. tariffs will apply to about 1,100 Chinese products, worth about $50 billion. The list of goods targeted for tariffs is focused on products from industries including aerospace, information and communications technology, robotics, industrial machinery and automobiles.

The Chinese government issued a statement warning that a trade war between the two countries would have global repercussions, according to press reports.

NPR reported that U.S. Customs and Border Protection will begin to collect tariffs on the first $34 billion worth of Chinese imports on July 6. A second set of imports subject to tariffs is still under review.

The Dow Jones Industrial Average on Friday morning fell 213 points, or about 1 percent, after the announcement.

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