USTR Files Notice to Hit Remaining China Goods With Tariffs

The Office of the U.S. Trade Representative (USTR) as released the list of Chinese goods that the U.S. intends to hit with 25% tariffs, a list worth about $300 billion. That would essentially cover all imports to the U.S. from China. "The proposed product list covers essentially all products not currently covered by action in this investigation," USTR said, referencing the investigation of China's practices on intellectual property actions under Section 301 of U.S. trade law. "The proposed product list excludes pharmaceuticals, certain pharmaceutical inputs, select medical goods, rare earth materials, and critical minerals. Product exclusions granted by the Trade Representative on prior tranches from this investigation will not be affected." There will be a public hearing on the proposed list June 17 and that is also the public comment deadline. As for the effective date of the new tariffs, that remains unclear. But indications are they could come into play by late June or perhaps beyond.