US-China Tariff Rates: An Overview

US-China Tariff Rates: An Overview

• 1. a. US–China tari rates toward each other and rest of world (ROW) US-China trade war taris: An up-to-date chart b. Percent of US-China trade subject to trade war taris 2019 2020 2018 US Section 301 taris of 15% (subset of $300 billion, List 4A) and China’s retaliation on some US products (subset of $75 billion) September 1 US imposes Section 301 taris on selected imports from European Union after WTO authorization in Airbus dispute October 18 China’s MFN taris cut on IT products July 1 US Section 201 taris reduced on solar panels and washing machines in second year of policy February 7 US exempts Canada and Mexico from Section 232 taris on steel and aluminum in exchange for both agreeing to VERs May 20 US reduces Section 232 tari on steel imports from Turkey from 50% to 25% May 21 US Section 301 taris (10% to 25% increase on List 3, eective June 15) and China’s retaliation on some US products (subset of $60 billion, eective June 1) June US Section 301 taris of 15% imposed on September 1, 2019 (List 4A) cut to 7.5%, and China’s retaliatory taris imposed on September 1, 2019 cut in half February 14 US Section 201 taris reduced on solar panels and washing machines in third year of policy February 7 US Section 232 taris extended to imports that use aluminum and steel February 8 US Section 232 taris on steel and aluminum, temporarily exempting Argentina, Australia, Brazil, EU, Canada, Mexico, and South Korea March 23 US Section 201 taris on solar panels and washing machines February 7 China suspends retaliation against US autos and parts (Section 301) and reduces MFN tari rates for 2019 January 1 China adjusts MFN tari rates for 2020, and US reduces taris on imports from Japan under US-Japan Trade Agreement January 1 China’s MFN taris cut on IT products July 1 China’s MFN taris cut on some steel products May 1 China’s MFN taris cut on IT products July 1 US adjusts Section 301 taris on selected imports from European Union related to Airbus dispute March 5 China's MFN taris cut on industrial goods November 1 US ends Section 232 steel and aluminum tari exemptions for EU, Canada, and Mexico. (Argentina, Brazil, and South Korea had earlier agreed to quotas) June 1 China's MFN taris cut on consumer goods, autos, and IT products July 1 China's MFN taris cut on pharmaceuticals May 1 China's retaliation to US Section 232 taris April 2 US Section 301 taris of 10% ($200 billion, List 3) and China’s retaliation ($60 billion) September 24 US Section 301 taris of 25% ($16 billion, List 2) and China’s retaliation ($34 billion) August 23 US Section 301 taris of 25% ($34 billion, List 1) and China’s retaliation ($34 billion) July 6 2021 China adjusts MFN tari rates for 2021, and US reduces taris on imports from Japan under US-Japan Trade Agreement January 1 China adjusts MFN tari rates for 2022; US Section 232 taris on imports of steel and aluminum from the European Union converted to a tari-rate quota January 1 China’s MFN taris cut on selected products, eective MFN tari increased on frozen chicken under conversion from special to ad valorem rate January 1 US adjusts Section 301 taris on selected imports from European Union related to Airbus dispute January 14 US Section 201 taris reduced on solar panels and washing machines in fourth year of policy (washing machines had received an extension) February 7 US Section 201 taris reduced on solar panels and washing machines in fifth year of policy (solar panels had received an extension) February 7 US Section 201 taris reduced on solar panels in sixth year of policy; Section 201 taris on washing machines expire February 7 US Section 232 taris on imports of steel from Japan converted to a tari-rate quota April 11 China’s MFN taris cut to zero on coal May 1 China’s MFN taris cut on IT products July 1 China’s MFN taris on coal revert to higher, binding rate April 1 US Section 232 taris on imports of steel and aluminum from the United Kingdom converted to a tari-rate quota June 1 US suspends Section 301 taris on selected imports from European Union (March 11) and United Kingdom (March 4) related to Airbus dispute March 2022 2023 MFN = most favored nation; VER = voluntary export restraint; WTO = World Trade Organization Trade-weighted average taris computed from product-level (six-digit Harmonized System) tari and trade data, weighted by exporting country’s exports to the world in 2017. US taris on ROW exports treated as unchanged whenever Section 232 taris on steel or aluminum were converted to quotas, VERs, or tari-rate quotas. Constructed by Chad P. Bown with data from UN Comtrade, Trade Map and Market Access Map (International Trade Centre, marketanalysis.intracen.org), as well as announcements from China's Ministry of Finance and the US Trade Representative. Note: Sources: #PIIECharts Learn more at piie.com/research/piie-charts US reimposes Section 232 tari of 10% on certain aluminum products from Canada August 16 US eliminates re-imposed Section 232 tari of 10% on certain aluminum products from Canada September 1 US Section 232 tari increase from 25% to 50% on imports of steel from Turkey August 13 Chinese taris on US exports US taris on Chinese exports Chinese taris on ROW exports US taris on ROW exports 21.1% 19.3% 6.5% 3.0% Jan 2018 Jun Jan 2019 Jun Jan 2020 Jun Jan 2021 Jun Jan 2022 Jun Jan 2023 0 5 10 15 20 25% Trade war Phase One agreement Jan 2018 Jun Jan 2019 Jun Jan 2020 Jun Jan 2021 Jun Jan 2022 Jun Jan 2023 0 10 20 30 40 50 60 70 80 90 100% Trade war Phase One agreement US exports subject to Chinese taris Chinese exports subject to US taris 66.4% 58.3%