Tariff wars, duties imposed by Donald Trump and US trading partners
US President Donald Trump said he would impose a 10 per cent tariff on the remaining $300 billion of Chinese imports after negotiators failed to make progress in US-China trade talks.
Trump has used tariffs as a tool to negotiate better terms of trade for the United States, saying bad deals cost millions of US jobs.
The following is a list of tariffs levied by the United States and its trading partners.
US tariffs on China
25 per cent tariffs on $50 billion worth of technology goods including machinery, semiconductors, autos, aircraft parts and intermediate electronics components imposed on July 6 and Aug. 23 as part of 'Section 301' probe into China's intellectual property practices.
25 per cent tariffs on $200 billion worth of goods including computer modems and routers, printed circuit boards, chemicals, building materials and furniture.
Retaliation by Beijing
A 10 per cent tariff on these goods was imposed on Sept. 24, 2018, as a response to retaliation by Beijing. Trump increased the tariff rate to 25 per cent on May 10 after accusing China of backtracking on earlier commitments in the talks.
US Trade Representative Robert Lighthizer has launched the process to impose 25 per cent tariffs on all remaining imports from China, another $300 billion worth of goods. That would hit consumer products hard, including cellphones, computers, clothing, toys and other consumer products.
Chinese tariffs on US
China on May 13 announced it would increase tariffs on a revised list of 5,140 US products, worth about $60 billion, after Trump's move. The additional tariff of 25 per cent will be levied on 2,493 products, including liquefied natural gas, soyoil, peanut oil, petrochemicals, frozen minerals and cosmetics. Other products will see tariffs of 5-20 per cent.
China had suspended a 25 per cent duty on US auto imports during its trade negotiations. Beijing has resumed some purchases of US soybeans but has not formally suspended those tariffs.
Future US tariffs
Based on the 2018 US Census Bureau trade data, China would only have about $10 billion in US imports left to levy in retaliation for any future US tariffs. Retaliation could come in other forms, such as increased regulatory hurdles for US companies doing business in China.
25 per cent tariffs on $50 billion worth of US goods including soybeans, beef, pork, seafood, vegetables, whiskey, ethanol, imposed on July 6 and August 23 in retaliation for initial rounds of US tariffs.
25 per cent tariffs on imported steel and 10 per cent tariffs on imported aluminium, imposed on March 23, 2018, on national security grounds. Exemptions have been granted to Argentina, Australia, Brazil and South Korea in exchange for quotas. Canada and Mexico were exempted from the tariffs in May. In response, both countries lifted their retaliatory tariffs on the United States.
20 to 50 per cent tariffs on imported washing machines, imposed on Jan. 22, 2018, as a 'global safeguard' action to protect US producers Whirlpool Corp and GE Appliances, a unit of China's Haier Electronics Group Co Ltd.
Trump is considering tariffs of around 25 per cent on imported cars and auto parts, based on a Commerce Department study of whether such imports threaten US national security.
The new US-Mexico-Canada Agreement protects Canadian and Mexican production in the event of such tariffs through a quota system. Trump has pledged not to impose auto tariffs on Japan and the European Union while trade negotiations with those partners are underway.
European Union's tariff on US
The European Union on June 22 imposed import duties of 25 per cent on a $2.8 billion range of imports from the United States in retaliation for US tariffs on European steel and aluminium. Targeted US products include Harley-Davidson motorcycles, bourbon, peanuts, blue jeans, steel and aluminium.
Trump ended preferential trade treatment for India in early June, resulting in US tariffs on up to $5.6 billion of imports from India.
India, the world's biggest buyer of US almonds, responded by slapping import duties on the nuts and 27 other US products.
US duty rates on steel and aluminium
The United States halved tariffs in May to 25 per cent on Turkish steel imports and 10 per cent on aluminium. It had doubled US duty rates on steel and aluminium from Turkey 50 per cent and 20 per cent, respectively, in August 2018 citing national security and currency concerns in an escalating trade spat between the NATO allies.
Trump's end of preferential trade treatment for Turkey
Turkey said it would cut its tariffs on some US goods in response to the US reduction. It has tariffs on $1.8 billion worth of US goods, including motor vehicles, alcoholic beverages, rice, structural steel and beauty products.
Trump ended preferential trade treatment for Turkey effective May 17, a move that imposes tariffs on about $1.66 billion of Turkish imports.