Trump just rolled out a massive list of $50 billion worth of Chinese products that will face new tariffs
- The US Trade Representative announced a list of Chinese products that will be subject to a new 25% tariff.
- The list includes goods ranging from machinery, to agricultural equipment, to tech goods.
- The total value of the goods subject to the tariffs will be roughly $50 billion.
- There is a 60-day comment period for businesses and individuals to request changes to the list.
The Trump administration on Tuesday released its initial list of Chinese products that will be subject to roughly $50 billion in new tariffs, taking the next step toward a crackdown that experts fear will trigger a trade war.
US Trade Representative Robert Lighthizer unveiled the list, which includes a wide array of products including raw materials, construction machinery, agricultural equipment, electronics, medical devices, and consumer goods.
The 25% tariff will apply to roughly $50 billion worth of goods coming from China. The tariffs are the result of an investigation by the trade representative into the Chinese government's alleged theft of intellectual property.Following Tuesday's release, there will be a 60-day comment period during which businesses and individuals can raise concerns about items included in the list. Following the comment period, the trade representative will evaluate the concerns and release an updated list.
The goods selected target specific industries that China identified as part of its Made in China 2025 plan. These industries, such as aerospace and agricultural equipment, were growth areas that the Chinese government hoped to develop over the next seven years.
"The list was refined by removing specific products identified by analysts as likely to cause disruptions to the US economy, and tariff lines that are subject to legal or administrative constraints," the USTR said. "The remaining products were ranked according to the likely impact on U.S. consumers, based on available trade data involving alternative country sources for each product. The proposed list was then compiled by selecting products from the ranked list with lowest consumer impact."
Economists say President Donald Trump's decision to hit China with tariffs will likely provoke a response from the Chinese and could push the two countries toward an all-out trade war that weighs on the global economy.
You can read the full release from the USTR below (the list of goods begins on page 14):