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on the 14th, according to information on the ministry of commerce website, the ministry of commerce spokesperson made a statement on the us's final measure to increase some 301 tariffs on china, expressing china's strong dissatisfaction and resolute opposition to this.

the spokesperson of the ministry of commerce said that china has lodged solemn representations to the us on the issue of section 301 tariffs on many occasions. the wto has already ruled that section 301 tariffs violate wto rules. instead of correcting the situation, the us has further increased tariffs on china, which is a mistake upon a mistake.

according to information on the ccpit website, a spokesperson for the china council for the promotion of international trade said that the final revision results announced by the office of the united states trade representative not only did not reduce the tariffs on electric vehicles, lithium batteries, photovoltaic cells, key minerals, semiconductors, steel and aluminum, port cranes, personal protective equipment and other products imported from china, but also increased the tariffs on products such as masks, medical gloves, needles and syringes again, and proposed to include tungsten, wafers and polysilicon products in the scope of tariff products.

the u.s.-china business council (uscbc) said in a statement that these additional tariffs, like the current tariffs, will harm american businesses, consumers and the overall economy.

the uscbc said tariffs have made it more difficult for u.s. companies to compete both at home and abroad, leading to lost u.s. jobs and higher prices for consumers.

the costs are ultimately borne by american businesses and consumers

a spokesperson for the ministry of commerce said that the us 301 tariff measures are typical unilateralism and protectionism, which not only seriously undermines the international trade order and the security and stability of the global industrial chain and supply chain, but also fails to solve its own trade deficit and industrial competitiveness problems. it also pushes up the prices of us imported goods, and the costs are ultimately borne by us companies and consumers.

china's latest report on the u.s.'s implementation of wto rules and obligations points out that the united states is a "disruptor of the global industrial chain and supply chain", and once again expresses serious concern about the u.s. abuse of "section 301".

a spokesperson for the ministry of commerce said that previously, the office of the united states trade representative solicited public comments on the results of the tariff review, and the majority of opinions opposed the imposition of tariffs or requested the expansion of tariff exemptions, which shows that the us 301 tariffs on china are unpopular. the us should immediately correct its wrong practices and cancel all tariffs on china. china will take necessary measures to resolutely defend the interests of chinese companies.

chinese foreign ministry spokesperson wang wenbin said at a regular press conference on may 15 that according to moody's estimates, american consumers have borne 92% of the cost of the additional tariffs on china, and american households have increased their spending by us$1,300 each year.

recently, goldman sachs said in a report that "tariffs in 2018-2019 significantly increased consumer prices," and that these price increases were "almost entirely borne by u.s. businesses and households" rather than chinese exporters.

goldman sachs estimates that each one percentage point increase in the effective tariff rate would directly reduce u.s. gross domestic product (gdp) by 0.03%, increase consumer prices by 0.1%, and keep inflation rising for one year.

the new york fed also found that the 2018 tariffs cost american households $419 a year due to increased taxes and lost market efficiency. the researchers estimated that this amount doubled as other tariffs took effect in 2019.

the net economic impact of import tariffs, retaliatory tariffs and farm subsidies on u.s. jobs and businesses "will be a 'washout' at best and likely to be slightly negative," economists wrote in a january 2024 working paper published by the national bureau of economic research.

which ones are increased and which ones are exempted

in addition to the additional tariffs on electric vehicles, lithium batteries, photovoltaic cells, key minerals, semiconductors, steel and aluminum, port cranes, personal protective equipment and other products imported from china, the ustr also increased tariffs on masks, medical gloves, needles and syringes, etc. these tariffs range from 25% to 100%, and the implementation period ranges from september 27 this year to january 1, 2026.

however, ustr also gave some exemptions from tariffs this time, such as exclusion clauses for enteral syringes, exclusion clauses for ship-to-shore cranes ordered before may 14, 2024, expanded the scope of the machinery exclusion procedure, added five tariff items, and modified the coverage of the proposed exclusion clauses for solar manufacturing equipment, temporarily exempting 14 types of solar manufacturing equipment from tariffs until may 31, 2025, etc.

roger, who has been engaged in us-bound transportation in california for many years, told the first financial reporter that the majority of us-bound sea freight is made up of daily consumer goods, home appliances, furniture, electronic products, plastic products, toys, machinery, auto parts, etc.

roger said that if we only look at the types of goods, the products on the tariff list are not the main goods on board. but these policies affect the future of china's industries exporting to the united states.

for example, for the entire us line, china's electric vehicle exports to the us are currently very small, but adding more tariffs is equivalent to completely closing the door to exports. he explained to reporters that for solar panel products, the us has previously forced chinese companies to set up factories in the us through tariffs and other measures. most of the solar panels on the us market are now imported from vietnam or thailand, and very few are imported directly from china.

he told reporters that, in fact, since last year, thousands of containers of chinese companies have been detained at us ports, and the companies may have paid millions of dollars in storage fees at the ports. as far as he knows, some suppliers of raw materials for solar panels have already brought raw materials from vietnam to the united states for assembly.

roger told reporters that based on his personal experience in 2018, if the tariff is indiscriminately imposed at 25% or 60%, it will have a greater impact on sea transportation.

the spokesperson of ccpit said that chinese electric vehicles, lithium batteries, photovoltaic batteries and other related industries have been cooperating with the business communities of various countries, including related american companies, on the basis of mutual respect, equality and mutual benefit, continuously carrying out technological innovation, actively promoting international cooperation in industrial chain and supply chain, and promoting global green and low-carbon development. recently, ccpit organized a delegation of chinese entrepreneurs to visit the united states successfully and conducted extensive and in-depth exchanges with the american business community. both sides unanimously called for respecting market principles and the spirit of contract, opposing trade protectionism, and safeguarding the interests of enterprises in both countries and the security, stability and smoothness of the global industrial chain and supply chain.

the spokesperson of ccpit said that the us side continued to insist on its wrong practices, ignored the opposition of the chinese and american business communities to the increase of tariffs, and refused to fulfill the us tariff reduction commitments made in the wto. this unilateral measure that clearly violates wto rules will seriously affect the confidence of the long-term stable cooperation of related industries between china and the united states, and will have an adverse impact on the cooperation of the global industrial chain and supply chain. the chinese business community firmly opposes this.