US imposes tariffs on China, which will affect its own consumption.
On August 7, the Office of the US Trade Representative announced the second round of tariffs, which will impose a 25% tariff on US$16 billion in imported Chinese products. The tariff will take effect on August 23. The product list includes semiconductors, electronic components and plastic products used in digital home appliances such as televisions and mobile phones.
According to the analysis of the Nihon Keizai Shimbun, according to the list, the United States will impose a 25% tariff on 279 categories and US$16 billion worth of Chinese goods on the 23rd. In addition to the first round of tariffs, the United States will impose tariffs on 1,097 categories and 10% of imported goods originating in China. In terms of the amount, "mechanical and electrical equipment" (integrated circuits, semiconductor-related products, etc.) will account for about 70%, with a total amount of $9.53 billion. Specifically, there are many major components in the semiconductor field such as a central processing unit (CPU), a microprocessor, and a semiconductor memory, and products that are indispensable for products such as personal computers and servers have become subject to tariffs.
According to the Nihon Keizai Shimbun, many of the semiconductors and electronic components imported from China are designed and manufactured by American companies in China, so the opposition of American companies and Congress is strong. In addition, electronic components (such as electric motors for many home appliances such as televisions) are also subject to taxation, and the impact will be expanded to products used by ordinary households.
In terms of the number of categories, plastic products widely used in households and industries account for more than half of the 279 categories. Because of the impact on a wide range of supply chains, Japanese companies are also wary of “unpredictable what impact will be produced”.
In addition, as the third round of sanctions against China, the US government will impose tariffs on Chinese products worth US$200 billion as early as September. In addition to household appliances such as refrigerators and vacuum cleaners, it also includes vegetables, fruits and fish and shellfish.
It is reported that the United States has imposed tariffs on Chinese goods of 16 billion U.S. dollars and has been widely opposed by representatives of the U.S. Chamber of Commerce, the Semiconductor Industry Association, and the National Retail Federation.
The US Chamber of Commerce’s Vice President for International Affairs, Myron Britten, said in a statement on the same day: “Whether you are a farmer, a fisherman or a factory worker, one thing is clear. Tariffs are counterproductive to the long-term success of the US economy. He believes that it is time for the United States and China to return to the negotiating table to find a solution.
The Semiconductor Industry Association of the United States is deeply disappointed that the US Trade Representative Office will retain semiconductor products imported from China on the tax collection list.
Matthew Shea, president of the National Retail Federation of the United States, said these tariffs represent a huge risk to American consumers and workers.
The American Consumer Technology Association also warned that the tariff threat to China will encourage China to import goods from countries outside the United States, which will put US companies in an unfavourable competitive position.