Steel and Aluminum Tariffs
On March 23, the White House imposed new import tariffs of 25% on steel and 10% on aluminum from most countries. Temporary reprieves for Canada, Mexico and the EU expired on June 1, effectively doubling the volume of imports subjected to tariffs.
Courtesy of White & Case, here are the countries that are imposing counter-tariffs and the products they will be targeting:
|
Country |
Tariff Rates |
Products Targeted |
Annual US Export Value (Millions of USD) |
Annual Tariff Value (Millions of USD) |
Effective Date |
Source |
|
China |
15%-25% |
$2,750.00 |
$611.45 |
In Effect as of 2-Apr-18 |
||
|
EU (Annex 1) |
25% |
$3,200.00 |
$700.00 |
20-Jun-18 |
||
|
EU (Annex 2) |
10%-50% |
$3,800.00 |
$800.00 |
23-Mar-21 |
||
|
India |
5%-100% |
$10,006.00 |
$800.10 |
21-Jun-18 |
||
|
Japan |
N/A |
$1,910.51 |
$439.94 |
18-Jun-18 |
||
|
Turkey |
5%-40% |
$1,784.74 |
$266.54 |
21-Jun-18 |
||
|
Russia |
N/A |
$3,158.10 |
$537.60 |
18-Jun-18 |
||
|
Canada |
10%-25% |
$12,789.35 |
1966.32* |
1-Jul-18 |
||
|
Mexico |
15%-25% |
N/A |
646.12* |
In Effect as of 5-Jun-18 |
||
|
|
TOTAL: |
$39,398.70 |
$6,768.07 |
|
|
Tariffs on Chinese Imports and U.S. Exports to China
On June 15, The White House released two lists of products imported from China that will be subject to 25% tariffs. China has responded with its list of U.S. products now subject to additional tariffs.
List of products from China subject to new tariffs beginning July 6:
https://ustr.gov/sites/default/files/enforcement/301Investigations/List%201.pdf
More products from China that may be subjected to tariffs starting in late July/early August:
https://ustr.gov/sites/default/files/enforcement/301Investigations/List%202.pdf
List of U.S. products subject to new tariffs in China beginning July 6:
Additional Resources
For updates on tariffs and the industries affected, please see this tracker from the Tax Foundation:
https://taxfoundation.org/tracker-economic-impact-tariffs/
*this information is courtesy of the U.S. Chamber of Commerce