US announces tariff list on US$300 billion in China

On May 13, Eastern Time, the US Trade Representative (USTR) Office issued an announcement, which will impose a 25%tariff solicitation of about $ 300 billion in Chinese goods and hold a public hearing meeting. , USTR also published a tax list covering 3,805 products in the attachment. The list includes a large number of chickens, ducks, beef, mutton, milk cheese and dairy products and other agricultural products, tulips, lilies and other plants and their roots, as well as wigs, gloves, toys and other daily consumer goods.

It is worth noting that the list includes a large number of mobile phones, base stations and other communication equipment products, as well as laptops and other consumer electronics products . Among them, the total value of smartphones has reached 43.2 billion US dollars, which is the highest among the tax scopes, followed by laptop computers, with a value of 37.5 billion US dollars, and digital camera products, which are also the focus of taxation. However, pharmaceuticals, certain pharmaceutical raw materials, some medical products, rare earth materials and critical minerals are excluded from the list.

Prior to this, the United States has imposed an additional 25% tariff on 250 billion Chinese goods. If the above list Upon implementation, most of China’s exports to the United States will be subject to additional tariffs.

I learned from He Weiwen, former Economic and Commercial Counselor of the Chinese Consulate General in San Francisco and New York, that the United States has such a huge list , could not have been ready within a week of Trump’s tweet. “The preliminary judgment is that since China and the United States started consultations, the United States has been negotiating while preparing a larger list. Preparations for a trade war have never stopped.”

He believes that China must actively meet the challenge.

In 2018, China’s imports from the United States totaled US$155.1 billion; its exports to the United States totaled US$478.4 billion. .

<span style="font-size: 16px" , the countermeasures that China can consider should not be limited to the field of trade in goods, but can also consider countermeasures in more areas such as trade in services, rare earths, and U.S. debt. "The United States is the largest source of China's trade in services deficit. The deficit in services trade between China and the United States was US$54.1 billion the year before last and US$48.5 billion last year. It can be used as a supplement to countermeasures in trade in goods."

Zhou Shijian introduced that China supplies 85% of the world’s rare earths, and the largest demander is the United States. China is highly dependent on rare earths. One of its uses is in military aircraft, laser-guided missiles and aircraft carrier take-off catapults. “The above-mentioned materials used in the United States are imported from China. These materials are also widely used in smartphones, global positioning systems, computer originals, and computer display screens.”

<span style="font-size: 16px" will be higher. Some experts say that the result of imposing tariffs on China is a decrease in productivity, which may also have a huge impact on consumers' ability to purchase laptops.

Apple has previously sent a letter to the Trump administration requesting not to impose tariffs on Apple products, otherwise it will reduce U.S. economic growth and competitiveness, bring higher prices to U.S. consumers, and It is recommended to look for other more efficient solutions.

It is worth noting that in the previous $250 billion tax list, about half were produced by foreign companies in China Products, data show that among the top 100 exporters to the United States, the number of foreign companies has reached about 70%. Domestic companies account for only 30%. And many of these mainland companies are trading service providers, not manufacturers.

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