At the end of the day on September 17, 2018, the U.S. Trade Representative issued notice that List 3 of the China tariffs has been finalized and takes effect with a 10% tariff on September 24, 2018. If “sufficient” progress is not made with the Chinese as defined by the Trump Administration, that tariff rate will rise to 25% on January 1, 2019. List 3 is the list containing products worth $200 billion.
The USTR announcement can be found here. The original list of products was 6,031. The final list was reduced to 5,745 and can be found here.
To no one’s surprise, the Chinese immediately announced their own retaliatory action and those details can be found here. (more…)