A Presidential tweet announced today that the List 4 (use this link for background and the details of list 4) products, representing almost all the remaining imports from China, will be subject to an additional 10% duty rate as of September 1, 2019. This comes on the heels of recent meetings between Chinese and U.S. negotiators and seems to be an effort to ratchet up pressure on China to address unfair trade practices but also for retaliation for China's failure to buy U.S. Agricultural products in large quantities and to stop the flow of fentanyl.
List 4 items cover about $300 billion worth of Chinese imports to the U.S. on top of the 10 to 25% tariffs already being imposed on approximately $250 billion of Chines goods. Should these new tariffs go through it will mean that essentially all goods of China origin will be subject to additional tariffs.
It bears watching what will come next in terms of the response from China as well as any formal announcement from the U.S. Trade Representative on the process for how new tariffs will be implemented and for requesting exclusion or exception from the proposed tariffs. We will monitor this situation and keep you advised.