(Reuters) – The latest bargaining chip in the US-China talks to cool a 16-month trade war is whether President Donald Trump would cancel tariffs on hundreds of billions of dollars in Chinese imports and how soon,
FILE PHOTOS : The 100 yuan (R) banknote was placed next to the $ 100 banknote in this illustration, taken in Beijing on November 7, 2010. RATERS / Petar Kujundzic / File photo
The Trump administration began imposing tariffs in July 2018. for industrial components and technological goods from China. As Beijing responds with higher tariffs on US agricultural commodities, Trump backs off with more tariffs – many already in force, some still threatened – in which the vast majority of Chinese imports may be affected by the end of 2019
Both the US and Chinese negotiators conclude a trade deal in phase, it is expected that at least part of these tariffs will be abolished.
The Chinese Department of Commerce and a US official said on November 7 that the deal would involve a tariff cut, but Trump has been pushing for the idea after the Chinese Hawks retreat in his administration, saying he did not decide to do so.
The following is a review of current and planned US tariffs on Chinese goods, listed in reverse chronological order. Commercial experts say the most recent tariffs will be the most likely to be eliminated.
Dec 15 TARIFFS, $ 156 billion LIST 4B here
The United States has to impose 15% tariffs on about $ 156 billion in Chinese products on December 15, including cell phones, laptops, toys and clothing – known as List 4B
People familiar with trade negotiations say that the United States has agreed not to continue with this round of tariffs as part of the first trade deal. One US official said the fate of those tariffs would be considered part of the final deal on the deal.
CANCELED OCT. 15 RATING INCREASE
After an October round of talks led to a White House shake-up on an interim deal with Chinese Deputy Prime Minister Liu Hye, Trump decided not to continue raising tariffs on October 15 to about $ 250 billion in Chinese goods to 30% of the already imposed 25% rate.
If the talks to complete the text for phase one of the first trade deal collapse, Trump could pass to recover that increase. The affected goods range widely from industrial components and semiconductors to furniture and building materials.
September 1 RATES: $ 125 billion, "LIST 4A" here
The United States imposed a 15% tariff on about $ 125 billion of goods on September 1, 2019, including flat panel TVs, flash memory devices, smart speakers, Bluetooth headsets, linens, multifunction printers and many types of shoes.
Trump imposed these tariffs and introduced tariffs on December 15 after the round of negotiations at the end of July failed to result in a significant increase in Chinese purchases of US agricultural commodities. The first-phase trade deal under discussion will double approximately similar purchases from pre-war levels over time, according to US Treasury Secretary Steven Mnuchin.
People familiar with the discussions say that China has requested that these tariffs be abolished as part of the deal on September 1 and the request is being considered.
MAY 10 INCREASE IN PRICE RATE
On May 10, 2019, Trump raised tariffs on Chinese goods worth $ 200 billion to 25% from 10% after China withdrew from a proposed deal for which US officials they said it was almost over.
Higher tariffs apply to the nearly 6,000 products that were initially taxed in September 2018, from computer modems and routers to vacuum cleaners, luminaires and furniture.
The US Attorney General's Office issued exceptions to hundreds of these products in September 2019, including some computer boards, laminate flooring and dog collars.
September 24, 2018, $ 200 billion GIFT TARGET: "LIST 3" here
Trump imposed tariffs on the $ 200 billion Chinese import list on September 24, 2018 after Beijing backed off the first wave of tariffs in the US with its own duties on American farm products and manufactured goods.
This list of tariffs for products, as well as the two previous lists below, are least likely to be canceled, say trade experts and people familiar with the talks, adding that maintaining some tariffs will keep a lever on China about the future. Trump said he would not make a full rebate on tariffs on Chinese goods.
TARIFFS for August / September 2018, $ 50 billion "LIST 1" here "LIST 2" here
The first US tariffs on Chinese imports imposed in the summer of 2018 covered $ 50 billion in Chinese goods, considered 301 US "Section 301 Claims that China systematically steals and coerces the transfer of US intellectual property to Chinese companies.
These initial lists consist primarily of industrial components, machines, semiconductors, and other non-consumer goods made by China, intended to hurt Chinese exporters while minimizing the impact on US manufacturers.
List 1 tariffs on the original $ 34 billion of Chinese goods were imposed on July 6, 2018, while a second list of $ 16 billion List 2 tariffs came into force on August 23, 2018.
Report from David Lauder and Heather Timmons in Washington; Editing by Matthew Lewis & Leslie Adler