Trump's tariffs proved more effective,news by Hebei Longsheng
| Trump's tariffs proved more effective than Xi's in March The U.S.-China trade war continued to go in America’s favor in March. U.S. imports of list 1+2 products - where 25% duties were applied by the Trump administration in July and August - fell 33.1% year over year in March. Meanwhile imports of list 3 goods, where there have been 10% duties since September dropped 29.2%. Imports that were not touched by tariffs only declined 4.7%, showing the degree of impact the tariffs have had. By contrast China’s imports of U.S. list 1+2 products, where the Xi administration also applied 25% duties, fell 35.5% while list 3 products - which had rates of 5% to 10% applied - declined by just 16.9%. That would suggest U.S. list 3 duties have proven more effective that China’s. In absolute terms the biggest declines in U.S. imports from China have been seen in computer components, which have had 25% duties applied, which dropped 69.1%. Among list 3 products network devices fell 30.0% and furniture dropped 21.3%. Both could see significant declines once the tariff increase to 25% from 10% takes effect from May 10. |
