#china

The China-US trade relationship has seen significant developments in tariffs imposed under Section 301 policies. Here's what's happening:

Recent Developments

- The US has increased tariff rates on certain Chinese imports, targeting $18 billion worth of goods.

- China has retaliated with counter-tariffs on US agricultural exports, including chicken, beef, pork and soy.

- The US has imposed a 20% ad valorem duty on products from China, in addition to existing Section 301 duties.

Affected Products

- *Semiconductors*: Tariff increased to 50% ad valorem

- *Critical minerals (including tungsten)*: Tariff now at 25% ad valorem

- *Solar components (including wafers and polysilicon)*: Tariff increased to 50% ad valorem

- *Electric vehicle manufacturing industry*: Increased rates will impact imports used in this sector

Tariff Exclusions

- 164 exclusions granted in 2022 and extended are set to expire on May 31, 2025

- New exclusions are being considered for solar manufacturing equipment and certain machinery imports

The ongoing tariff drama reflects the complex and evolving nature of US-China trade relations, with both sides imposing tariffs and counter-tariffs in a bid to protect their economic interests