U.S. and China enact opposing tariffs
Import duties have taken effect on machinery, components and billions of dollars of additional products shipped to the U.S. from China.
The U.S. on July 6 began imposing a 25 percent tariff on roughly $34 billion of Chinese imports “containing industrially significant technologies.” The list of products includes 818 product types, including equipment relevant to recycling.
For example, machinery for grinding, sanding, polishing, extruding, injection-molding, blow-molding and a variety of other processing activities are subject to the new duties. Paper making equipment is also hit by the new tariff, including machinery “for making paper pulp, paper or paperboard,” and a number of components that are included in such equipment.
In a press conference Friday, a Chinese government spokesperson noted “the instant that the U.S.’s unilateral and unfair imposition of additional tariffs on China came into effect, China’s tariff increase on some of American exports also took effect immediately.”
China’s list of retaliatory tariffs was published in June. The list mostly includes food, vehicles and a small number of other products, with the total value of imports covered equaling the $34 billion targeted by the U.S.
The newly enacted tariffs join the steel and aluminum tariffs the U.S. began levying in early June.
Article source: https://resource-recycling.com/recycling/2018/07/10/u-s-and-china-enact-opposing-tariffs/
Possible future tariffs
The U.S. published a second, smaller list of additional products that are being considered for tariffs. The list includes 284 product types worth $16 billion, including more machinery and components, as well as many virgin plastic resins.
The Chinese government responded accordingly, releasing its own second list of $16 billion of imported products potentially subject to future tariffs based on the U.S.’s decision. That list includes a variety of virgin plastics, fuels and chemicals.