China to Levy Retaliatory Tariffs on U.S. Goods
China’s Ministry of Finance announced June 15 that it will respond in kind to the U.S. Section 301 tariffs announced the same day (see related article this issue).
First, beginning July 6 China will impose an additional 25 percent tariff on 545 U.S. goods with an import value of approximately $US 34 billion. Affected products (click here for the full list in Chinese) include agricultural goods and automobiles.
Next, on a date to be determined, China will levy an additional 25 percent tariff on 114 other U.S. goods (click here for the full list in Chinese), including chemical products, medical equipment, and energy products such as coal, crude oil, and gas.
President Trump said if China goes forward with these or other retaliatory measures (e.g., non-tariff barriers or punitive actions against U.S. exporters or U.S. companies operating in China) the U.S. will pursue further tariffs against China.