U.S.-China Tariff Actions by the Numbers (CRS Report for Congress)
| Release Date |
Oct. 9, 2019 |
| Report Number |
R45949 |
| Report Type |
Report |
| Authors |
Brock R. Williams, Keigh E. Hammond |
| Source Agency |
Congressional Research Service |
Summary:
Since early 2018, the United States and China have imposed a series of tariffs against one another's products. These tariffs now affect the 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 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 by reducing 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. stakeholdersâU.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.
