ABSTRACT

U.S.-China Tariff Actions by the Numbers [October 9, 2019]   [open pdf - 1MB]

From the Overview: "Since early 2018, the United States and China have imposed a series of tariffs against one another's products, and these tariffs now affect a majority of trade between the two countries. U.S. tariffs imposed under Section 301 of the Trade Act of 1974 (which followed an investigation on China's intellectual property rights [IPR] practices) and China's retaliatory tariffs affect the largest share of U.S.-China trade. Earlier U.S. tariffs (and Chinese retaliation) on steel and aluminum (Section 232) and solar panels and washing machines (Section 201) also affect U.S.-China trade. The Trump Administration argues that because they reduce U.S. demand for Chinese exports, the tariffs are an effective tool to pressure China to change its policies. The tariffs, however, also impose costs on U.S. stakeholders--U.S. tariffs increase the price U.S. firms and consumers pay on imports from China, while China's retaliatory tariffs disadvantage U.S. exporters by making U.S. products relatively more expensive in the Chinese market. [...] In order to provide a snapshot of the scale and scope of the escalating trade conflict, this report examines 2017 trade flows of affected products, before they were affected by the tariffs and trade-weighted average tariff increases."

Report Number:
CRS Report for Congress, R45949
Author:
Publisher:
Date:
2019-10-09
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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