Beginning tomorrow, the U.S. and China will levy different tariffs on imported goods from each other’s country.
The moves follow progress in weekend meetings between the two countries.
RVIA reported the China tariffs would be levied as follows, with duties stacked depending on the products imported:
Products receive a 10% tariff as a reciprocal tariff or a Section 232 tariff on products subject to Section 232. An additional 20% tariff is added because of the national emergency surrounding fentanyl. An additional 25% is levied to products subject to Section 301.
If a Section 232 tariff applies, the 10% reciprocal tariff will not apply. HTS code lists are specified in the Federal Register. Section 301 tariffs currently apply to most Chinese products, but they are variable, depending on the HTS code and product.
Products subject to Section 301 would be levied a total tariff of 55%. Products not subject to Section 301 would be levied a 30% tariff.
The tariffs would be in effect for 90 days, through Aug. 12. Both sides said they would continue trade discussions during the 90-day period.
