The United States Trade Representative (USTR) today released a list of approximately $200 billion worth of Chinese imports that will be subject to additional tariffs. The additional tariffs, effective September 24, initially will be in the amount of 10% but will increase to 25% by the January 1, 2019, according to a press release.
The list contains 5,745 full or partial lines that were proposed in mid-July. Products used by U.S. window, door, and skylight manufacturers as well as many products used in the residential construction sector are on the list of products affected by the new tariffs. The Window and Door Manufacturer Association (WDMA) released a statement, expressing concern that the additional tariffs may do more harm than good to the domestic economy.
"Window, door, and skylight manufacturers utilize many of the products on the list in the manufacturing process," WDMA President and CEO Michael O'Brien said in the news release. "These additional tariffs will likely lead to price increases for the residential and commercial construction markets and continue the threat of a trade war with China."
The list of affected imports also includes $10 billion of goods used by the residential construction sector, National Association of Home Builders (NAHB) chairman Randy Noel said in a news release from the organization. Noel suggested the tariffs could have "major ramifications" for the housing industry and may effectively act as a tax increase on housing that will become more accelerated when the 25% tariff rate kicks in on January 1.
"This tax increase is coming on top of the current 20% tariffs on softwood lumber imports from Canada," Noel said in the news release. "With American facing a housing affordability crisis, it is counterproductive to enact policies that will needlessly drive up the cost of housing."
