Trump proposes tariffs on Chinese goods | KPMG | US

Trump proposes tariffs on Chinese goods

Trump proposes tariffs on Chinese goods

President Donald Trump today announced actions to address China’s trade practices. The president issued an order directing the U.S. Trade Representative to prepare a list of goods imported from China that will be subject to tariffs. The proposed tariffs will total approximately $50 billion, and would address China’s policies concerning technology transfers and intellectual property.

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According to a release from the USTR, the president has instructed that the appropriate response to China’s harmful acts, policies and practices should include three separate actions. 

  • Tariffs – The USTR is to publish a proposed list of products and any tariff increases within 15 days of today’s announcement. After a period of notice and comment, the USTR will publish a final list of products and tariff increases. 
  • WTO dispute – The president has instructed the USTR to pursue dispute settlement in the World Trade Organization (WTO) to address China’s discriminatory technology licensing practices. 
  • Investment restrictions – The president has directed the Treasury Secretary to address concerns about investment in the United States directed or facilitated by China in industries or technologies deemed important to the United States. 

According to press reports, the list of goods to be subject to tariffs would affect about 1,300 types or lines of products.

 

For more information, contact a professional with KPMG’s Trade & Customs practice:

Douglas Zuvich | +1 (312) 665-1022 | dzuvich@kpmg.com

Andrew Siciliano | +1 (631) 425-6057 | asiciliano@kpmg.com

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