June 19, 2018
After President Trump directed the additional Section 301 tariffs that will go into effect on July 6th, China announced its decision to implement 25 percent tariffs on $34 billion in U.S. imports,
In response to China’s actions, the President has directed the United States Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent.
Per the White House statement, once the legal process is complete,
“these tariffs will go into effect if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced. If China increases its tariffs yet again, we will meet that action by pursuing additional tariffs on another $200 billion of goods.”
We will continue to monitor and provide you with updates as matters evolve.
