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Trump Admin Reboots $50B China Tech Tariffs

Dan Jones
5/29/2018
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The Trump administration said Tuesday that the US will go ahead with planned $50 billion tariffs on Chinese technology and block Chinese investment in US tech industries, ahead of talks on trade between the two countries this Saturday.

The White House announced Tuesday that the United States will impose a 25% tariff on $50 billion of goods. This after Treasury Secretary Steven Mnuchin said May 20 that the US had suspended tariff plans because of trade talks.

The White House now says "final list of covered imports will be announced by June 15, 2018, and tariffs will be imposed on those imports shortly thereafter."

President Trump initially announced plans for $50 billion of tech tariffs on March 22. The Office of the US Trade Representative (USTR) released a list of 1,300 potential tariff items on April 3, for public comment. These items included flat-screen TVs, batteries and more.

It is unclear at this time what exactly will carry over from the old list to the new, if anything.

Trump went against US Senators late Friday, tweeting that he would end the ban on US companies selling components to ZTE Corp. (Shenzhen: 000063; Hong Kong: 0763), if the Chinese networking and phone vendor paid a $1.3 fine. ZTE had to close down on May 9 after the US ban was announced in April. (See Trump Says ZTE Can Re-Open... With Conditions.)

ZTE's avenues to sell phones and networking gear in the US are nearly non-existent already. (See FCC Eyes USF Funds Ban for Chinese Vendors .)

— Dan Jones, Mobile Editor, Light Reading

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mendyk
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mendyk,
User Rank: Light Sabre
6/1/2018 | 11:11:16 AM
Re: Offshoring tax burdens
The president's MO is pretty easy to decipher -- especially for those of us who've witnessed his adventures and misadventures in the NYC area.
DanJones
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DanJones,
User Rank: Blogger
6/1/2018 | 11:08:05 AM
Re: Offshoring tax burdens
Yeah, I don't get the logic of it for sure, but I'm not an industrial economist, and nor do I play one on TV.
mendyk
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mendyk,
User Rank: Light Sabre
6/1/2018 | 11:05:13 AM
Re: Offshoring tax burdens
Yes -- now we see how long it takes for them to be suspended again. Tariffs are being used as bargaining leverage at this point, rather than being the basis of a coherent policy.
DanJones
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DanJones,
User Rank: Blogger
6/1/2018 | 10:59:55 AM
Re: Offshoring tax burdens
Well the steel tariffs have now been enacted against the EU and Canada, so I guess its less of idle threat now.
DanJones
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DanJones,
User Rank: Blogger
5/31/2018 | 10:27:19 AM
Re: Offshoring tax burdens
Sure have! We have dates to revisit this time though.
mendyk
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mendyk,
User Rank: Light Sabre
5/31/2018 | 9:52:11 AM
Re: Offshoring tax burdens
Have you noticed yet how many of these tariff declarations are threats to enact duties at some point in the near future? Makes for lots of headlines without actually putting those duties into effect.
DanJones
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DanJones,
User Rank: Blogger
5/31/2018 | 6:55:58 AM
Re: Offshoring tax burdens
Ah yes, but will Joe consumer be happy to pay more for tech and consumer electronics?
Joe Stanganelli
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Joe Stanganelli,
User Rank: Light Sabre
5/30/2018 | 10:10:40 PM
Offshoring tax burdens
I'm no economist, but I'm quite happy to let foreign corporations carry a more hefty tax burden instead of Joe Taxpayer (or Joe Stanganelli, for that matter).
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