Here Are The 128 US Products Subject To Chinese Import Tariffs

As the WSJ previewed two days ago, China's retaliation to Trump's $50BN in tariffs was virtually instant, and while modest - at only $3 billion for now - based on the 128 product categories revealed by the Chinese commerce ministry, Beijing is clearly targeting the Trump agricultural base and manufacturers in swing states. In other words, Xi is sending a clear message: Stop provoking, or it will get worse.

"China’s response is surprisingly modest in light of the U.S. actions, suggesting there could be a good deal more to come," Stephen Roach, told Bloomberg. "As America’s third largest and most rapidly growing export market and as the largest foreign owner of Treasuries, China has considerably more leverage over the U.S. than Washington politicians care to admit."

To be sure, economists have said that the impact of the tariffs announced until now may be quite limited. If the U.S. imposes a 25% duty on $50 billion of imported goods, the additional $12.5 billion tariff is equivalent to an additional 2.9 percent charge on all of China’s exports, according to JPMorgan economists led by Haibin Zhu in Hong Kong.


“From a macro perspective the additional tariff is only equivalent to 0.1 percent of China’s GDP and affected exports only account for 2.2 percent of China’s total exports,” they wrote in a note. “The direct macro impact tends to be limited.”

However, JPM also cautioned that there may be some confusion here, and whether the Trump administration plans to impose tariffs on 50 billion in Chinese imports, or aims to raise $50 billion in revenue (roughtly 10% of annual Chinese imports). If it's the latter case, US tariffs would apply to $200BN, or a whopping 40% of Chinese imports.

For now however, and just hours after the US announced 25% duties on targeted Chinese products including items in aerospace, information and communication technology and machinery (the full proposed list will come in the next “several days,” according to the Trade Rep fact sheet), China was out with a list of 128 products split into seven groups and including U.S. pork, recycled aluminum, steel pipes, fruit and wine.

Specifically, the ministry said it was considering implementing measures in two stages: first, a 15% tariff on 120 products including steel pipes, dried fruit and wine, and later, a 25% tariff on pork and recycled aluminum. 

Beijing further explained that if China and the U.S. can’t reach an agreement on steel and aluminum trade, after a public consultation period which ends March 31, Beijing would begin collecting tariffs of 15% on imports worth $977 million, including fresh fruit, nuts, wines, denatured alcohol, ginseng, and seamless steel tubes. China could then implement additional tariffs of 25% on around $2 billion worth of product imports, including pork and aluminum.

The full list of US imports targeted by China is below

Source: Reuters

 

Comments

BanksterMind Fri, 03/23/2018 - 09:15 Permalink

Who needs a time machine, we get to re-live the opium wars all over again!

 

Enjoy the show. I just hope you don't depend on a job to eat.

Or that your kids will need one in the next ten years!

 

stop mocking around, time to make a move!

invest in yourself.

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FreeMoney idahobandito Fri, 03/23/2018 - 11:34 Permalink

We have been in a trade war for the last thirty years and getting our asses kicked daily.  Thats what trade deficit means.

You know why businessmen in China don't shake hands?  They want to keep the hand!

Our open trade policy ( started by Tricky Dick ) was to draw China in to the world through trade and business.  It has been more like feeding a swarm of locusts.

In reply to by idahobandito

Faeriedust FreeMoney Fri, 03/23/2018 - 20:26 Permalink

Trade was re-opened with China in the 1980s because the grandsons of the jerks who made their first fortunes in the "China trade" (i.e., opium-running) wanted a second try.  They saw that China's economy had recovered enough to where it could once again be sucked off, so they started up the hoovers.  No one did a serious analysis, except to discover the right slogans to use to market it to John Q Public.  It wasn't the public's decision, and the public good certainly wasn't considered. The whole point was so that rich scumbags could make massive profits, and they thought that they could mainly because after all they had done it before.  They completely failed to reckon with the change in leadership between a failing monarchy and a new bureaucracy that had just hit its stride.

In reply to by FreeMoney

straightershooter Pool Shark Fri, 03/23/2018 - 10:16 Permalink

Sure,  gain some, lose some, but soon, your favored gadget will cost you an arm and a leg.....Apple iphone will be banned from shipping directly to USA from China, all things computer/electronic could skyrocket in price....

domestic flight will be much cheaper as well as hotel charges..no Chinese tourists compete for those seats/beds.....college/universities will be much expensive for lacking Chinese student tuition subsidy....

If you are a farmer, you have Trump to thank. and if you are a consumer, do remember who makes you pay more, or, less. If, in this war of trade, you are better off, vote Trump next time, otherwise, vote Trump out.

In reply to by Pool Shark

AGuy 11b40 Fri, 03/23/2018 - 17:22 Permalink

"Or how about trying to have a little vision, and realize that your company may be the next to off-shore your job to China. Maybe think about how it could be better long term to pay a little more for those non-essential consumer goods and still have a paycheck."

Ha! these Tariff's are going to *accelerate* offshoring as Multi-national companies that export will move production to Asia to avoid the trade war.

Considering that the Millennials don't do manufacturing jobs, these tariffs\trade wars isn't going to create US Manufacturing jobs. What remains in the US will become more automated and production that can't be automated will have to be outsourced do to lack of workers. I suppose the US could immigrate Asia factory workers into the US, but even most of Asia is facing rising worker age (ie China:One Child Policy, Japanese don't have sex anymore, etc).

The challenges of a changing workforce
http://www.google.com/url?url=http://blogs.infor.com/manufacturing-matt…

anufacturers have been struggling to face the skills gap issue for nearly a decade. Retiring Baby Boomers have been leaving job vacancies that today’s millennial workers either don’t want or aren’t skilled to fill.

In reply to by 11b40

tion Pool Shark Fri, 03/23/2018 - 11:58 Permalink

>The price of all 128 products just went down for Americans...

This list is funny. They even smacked ginseng lol. 

In other countries with very weak currencies or economies, sometimes the locals are going hungry. Not because no food is being grown, but because the farmers are only selling to the highest globalist bidders able to pay in stronger currencies, and the locals cannot afford those prices, so the food is exported. The cost of globalism. We have been perpetrators, but we may escape some consequences yet, China is doing us a favor with this list.

In reply to by Pool Shark

Faeriedust tion Fri, 03/23/2018 - 20:32 Permalink

Which is to say, when you leave the supply of life necessities such as food, water, or winter heat to the "free market", you generally assure that some of the poor will die from it while the rich continue to throw said necessities away.  And that is where the worship of money leads.

In reply to by tion

SergeA.Storms straightershooter Fri, 03/23/2018 - 11:05 Permalink

I’m afraid you have that backwards.  In this case big population numbers hurt a lot.  Think 10% unemployment and starving 1.2 Billion population vs 10% unemployment and starving 350 million population.  One kills a country, the other causes a recession.  Throw in that all of northern China is in drought conditions, within the year they will lose 30 years of societal improvement, the USA, not so much.  We may tighten the belt and resolve to rely much more on interstate commerce to survive, but our resources can support us.  China on the other hand gets thrown down the chipper shredder without American consumers.  Now, where is my American beer, my American snacks, my locally made luxury recliner, and my South Korean big screen TV? It’s almost Saturday and Dad wants to Netflix and chill.

In reply to by straightershooter

11b40 SergeA.Storms Fri, 03/23/2018 - 11:48 Permalink

Thank you for a dose of reality.  I just got off the phone with a Chinese glass factory rep trying to figure out delivery schedules for some items.  The class was made& the the glass was decorated, but the process took longer than usual because they had to run the coal furnace at night to avoid being shut down.  Gas is OK for producing the glass, but won't fire hot enough to make decal colors pop.  That was the first delay.  Then, the packaging was a problem.  Paper products are a big issue.  Prices up, availability down.  The final problem we were dealing with today - a supplier who was to deliver some metal tops was shut down by the environmental police.  These are issues importers are dealing with every day.

Few people know much about China.  Even most who go there spend their time in the cities or manufacturing districts.  When you travel deeper into the mainland, you realize that for the most part, it is a vast 3rd world country, with peasants still living much as they always have.....and wide spread starvation is something that could become their reality.  

 

In reply to by SergeA.Storms

11b40 hwy Fri, 03/23/2018 - 11:54 Permalink

You need to educate Straightershooter above.  He thinks they are all fat & happy.

Of course, as a country they can import food from anywhere, but the consumers have to be able to buy it.  Food insecurity gets a lot of attention from the Communist Party.  They know starving peasants could be their downfall.

In reply to by hwy