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The U.S. Trade Representative Office (USTR) said Monday that the list of tariffs to be imposed on about $300 billion of Chinese imports to the United States would include mobile phones and laptops, but not pharmaceuticals and rare earth materials.
USTR said it would hold a public hearing on the list of 3,805 product categories on June 17, which could be subject to up to 25% tariffs. USTR said there was a seven-day final response period after the hearing, which meant that the consultation period was much shorter than the previous round of tax increases.
In the summer of 2018, when tariffs were imposed on 200 billion US dollars of Chinese goods imported to the United States, there was a 71-day public opinion consultation period, and the latest round had a 42-day opinion consultation period for 300 billion US dollars of goods.
The list of goods to be taxed covers almost all consumer goods, including mobile phones, laptops and tablets, that Trump had not previously taxed $250 billion of Chinese goods. Apple (AAPL.O) shares fell 5.8% Monday, dragging down U.S. stocks. The previous round of tax increases did not involve Apple products.
Consumer goods such as clothing, shoes, snow removers and pencil sharpeners are on the catalogue of goods to be taxed.
But this list does not include Chinese-made medicines, raw materials for producing medicines and specific medical products, and rare earth materials. Rare earth minerals and some pharmaceutical raw materials are considered to be of great significance for electric vehicles, national defense and pharmaceutical products.
The products excluded by USTR's previous round of tax increases will not be affected, including some of the goods announced earlier Monday that will not be affected by the tax increases, such as small electric vehicles, water filters and other components.
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