On Monday, June 18, the President released a statement indicating that he had directed the U.S. Trade Representative to identify another $200 billion worth of Chinese goods for additional tariffs at a rate of 10%.
On Friday, June 15, the Administration announced plans for tariffs on $50 billion worth of Chinese imports which will have a 25% tariff. China quickly responded by announcing tariffs on $50 billion worth of U.S. exports.
In Monday’s announcement, President Trump stated “If China increases its tariffs yet again, we will meet that action by pursuing additional tariffs on another $200 billion of goods.”
Husch Blackwell LLP will continue to monitor this situation closely. For more information please contact Nithya Nagarajan, Beau Jackson, Jeffrey Neeley, Robert Stang, Cortney Morgan, or Stephen Brophy.