China recently announced that it would be imposing retaliatory tariffs on $75 billion U.S. goods, including American autos and auto parts.
The announcement came in response to the Trump Administration’s decision to impose tariffs on USTR’s Section 301 List 4 products, the Auto Care Association says.
China’s proposed tariffs, ranging from 5-25%, would go into effect in two phases on Sept. 1 and Dec. 15, 2019. The dates mirror the timeline of when the Section 301 List 4 tariffs would go into effect.
A 25% tariff on autos and 5% tariff on auto parts will go into effect in the second phase on Dec. 15, 2019. Other products impacted by the retaliatory tariffs include agricultural goods and crude-oil.