Trump is going to slap tariffs on another $16 billion worth of Chinese goods — here's the full list of goods that will get hit
- The Trump administration announced the second tranche of tariffs on Chinese goods will go into effect August 23.
- The tariffs will hit $16 billion worth of Chinese goods coming into the US.
- The goods are mostly industrial products ranging from chemicals to tractors.
- Here’s the full list of goods that will be hit.
The final list of goods released by the US Trade Representative will apply to roughly $16 billion worth of items coming into the US, bringing the total amount of Chinese goods subject to the Section 301 tariffs up to $50 billion.
The tariffs are designed to avoid consumer goods, instead focusing on machinery, chemicals, and other industrial items. In particular, the USTR has said that the list is supposed to hit industries identified in Beijing’s Made in China 2025 plan. The plan is designed to help boost Chinese businesses in certain high-growth industries like tech and manufacturing.
Despite the focus on industrial goods, many economists say that the increased costs for American manufacturers will eventually be passed down to consumers in the form of higher prices.
While businesses had the chance to comment on the initial list, released in July, there are only five items that were ultimately dropped from the original. Those items that were spared from the tariffs are:
- Alginic acid
- Machines for splitting or slicing wood, cork, bone, or similar hard materials
- Floating docks
- Intermodal shipping containers
Here’s some of the major categories to be hit with the new tariff:
- Lubricating oils
- Polymers used in things such as clear plastic wrap and Styrofoam coolers
- Resins and other industrial chemicals
- Plastic tubes and pipes
- Plates, sheets, film, foil, and strips of various plastics and polymers
- Bridges or bridge parts made of iron or steel
- Engines for industrial equipment
- Agricultural equipment such as irrigation systems and seeders
- Specialty motor vehicles
- Measuring equipment for everything from electrical currents to liquid supply
And here’s the full list of goods from the USTR:
Read the full article from it’s original source: http://uk.businessinsider.com/trump-china-tariff-second-list-of-goods-products-worth-16-billion-2018-8