On Thursday, 279 commodity classifications were added to the previous 818 commodity classifications impacted by the 25% duty on China origin goods entering the United States. Combined, this is an estimated $50 billion in trade value.
The U.S. has decided take further action by proposing an additional 10 percent ad valorem duty on products of China with an annual trade value of approximately $200 billion spread across 6,031 tariff subheadings. This is known as “List 3.†The U.S. Trade Representative Lighthizer has also been instructed to consider raising the “List 3†tariffs to 25 percent.
The determination on “List 3†will be made after the hearings that are scheduled for August 20th to 23rd. The Office of the U.S. Trade Representative has stated that the final decision will be made sometime after August 30th.
Please note that these lists only impacts goods manufactured in China and shipped into the United States.