On March 1, 2018, the government of China announced that it will impose tariffs on 120 U.S. products including steel and aluminum. This decision followed recent measures taken by the United States to detain and diminish Chinese imports. U.S. Trade Representative Lighthizer revealed a list of goods which would be subject to 25 percent tariffs for $50 billion worth of Chinese products including machinery, agricultural equipment and tech goods. These tariffs aim to alleviate the $375 billion trade deficit with China.
China’s announcement states a 15 percent tariff will be added to fruits, nuts, wine and steel pipes, while a 25 percent tariff will be added to pork and aluminum. The trade value of these products combined surpasses $3 billion.
As San Diego’s third highest export destination with a total value of $794 million, tariffs represent a critical threat to our region. Trade supports more than 110,000 jobs in San Diego, and many studies have shown that the average U.S. household saves about $10,000 per year in lower prices paid for imported goods. The Chamber will continue its advocacy for free trade and cross-border commerce.