Comparing New And Current US Tariffs On Chinese Imports
This week, the U.S. introduced a new series of tariff increases on Chinese imports, amounting to over $18 billion worth of goods.
In the announcement, President Biden said they are aiming to “counter China’s unfair trade practices” by targeting specific sectors where the U.S. is boosting domestic production.
This graphic, via Visual Capitalist’s Kayla Zhu, shows the new and current U.S. tariff rates set on a variety of Chinese imports.
Tariff rates and implementation years for the new rates come from The White House’s May 14 press release announcing the new tariff rate increases. Implementation years for the current rates comes from the Office of the United States Trade Representative (USTR) and United States International Trade Commission (USITC).
Tariff Raises on China Hit EV and Medical Industries
Below, we show the current and new tariff rates, as well as the implementation years for both, for a range of Chinese imports, as of May 14, 2024.
†Current rate for steel and aluminium products and personal protective equipment ranges from 0 to 7.5%.
*Tariffs implemented in 2019 started at 15% and were reduced to 7.5% in January 2020
The U.S. directed many of its new tariff increases on the Chinese EV industry, targeting imports such as semiconductors, lithium-ion batteries, and other battery parts.
Notably, tariffs on electric vehicles from China were bumped to 100% and new tariffs on certain critical minerals, which are essential for manufacturing battery parts and semiconductors, were introduced.
Medical-related products, such as medical and surgical gloves and certain personal protective equipment like face masks were also impacted by the new tariff increases. Some of these items were previously granted exclusions from Section 301 tariffs due to COVID-19.
Syringes and needles, which were previously not subjected to any tariffs, were also hit with a new 50% tariff.
Section 301 Tariffs Still Going Strong
Tariffs are taxes imposed by a country on imported goods, increasing their price to protect domestic industries, regulate trade, or generate revenue for the government.
These new tariff actions were introduced under Section 301, a provision that allows the U.S. government to investigate and respond to unfair trade practices by foreign countries.
Section 301 tariffs on Chinese goods were first introduced by former President Donald Trump in 2018, which sparked retaliatory tariffs on China and set off a years-long trade war between the two countries.
Currently, Section 301 tariffs apply to over $300 billion worth of Chinese imports.
Tyler Durden Sun, 05/19/2024 – 22:10
Source: https://freedombunker.com/2024/05/19/comparing-new-and-current-us-tariffs-on-chinese-imports/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Humic & Fulvic Liquid Trace Mineral Complex
HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.
Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...
It’s OXYGENATED
It Always Tests at 9.5+ pH
Preservative and Chemical Free
Allergen Free
Comes From a Pure, Unpolluted, Organic Source
Is an Excellent Source for Trace Minerals
Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents
Highly Conductive/Full of Extra Electrons
Is a Full Spectrum Complex
Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.
Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.
![Report abuse](/img/report_abuse.png)