President Donald Trump’s latest broadside against China could drive up the cost of some very important imports.
The latest round of tariffs, which hit goods ranging from from agricultural products like fruit, to consumer goods like furniture to industrial items like chemicals, are set to go into effect on Monday. Economists expect that the items hit by the 10% tariff will increase in price, making those goods more expensive for US consumers and businesses.
The total value of the 5,745 items on the Trump administration’s list is just under $200 billion worth of Chinese goods. But, some of the goods weigh more heavily than others.
Using data from the US Trade Representative’s tariff list and the US Census Bureau’s database, the Trade News Centre broke down how much of each good was exported to the US from China in 2017 to determine the most important items that will get hit. We’ve then narrowed down the list to the imports of which the US bought at least $1.5 billion worth from China in 2017.
There were 14 items on the tariff list that topped $1.5 billion in import value last year with a hodgepodge of goods including auto parts, circuit boards, and chairs.
Included with each item is the common name for the goods, the value of 2017 imports to the US, the technical name for the goods in the harmonized system (an international classification system for goods in order to standardize trade), and the goods harmonized system code (which allows importers, exporters, and government officials to look up goods easily).
Check out the list below:
from Viral Trendy Update https://ift.tt/2PVjJzl
via IFTTT
0 Comments