The United States Trade Representative’s office has unveiled a list of around USD 16 billion worth of imports from China that will be subject to a 25 percent additional tariff.
As informed, the country’s Customs and Border Protection will begin to collect the additional duties on the Chinese imports on August 23, 2018.
The move is part of the US response to China’s trade practices related to the US-called “forced transfer of American technology and intellectual property.”
This is the second time the US has imposed tariffs on Chinese goods. On July 6, the US tariffs on USD 34 billion in Chinese products, containing mostly machinery and electronics, took effect.
The new list contains 279 of the original 284 tariff lines that were on a proposed list announced on June 15. It includes commodities such as plastics and oil products.
Tariffs on USD 50 million worth of Chinese imports will affect the container shipping industry on the eastbound transpacific trade line.
What is more, with the newest tariffs amounting to USD 16 billion, the tanker and gas shipping industries can also expect changes to trade lines, according to BIMCO.
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