According to recently released U.S. Customs and Border Protection (CBP) data, the agency has assessed, as a result of tariffs implemented through U.S. government actions under Section 232 of the Trade Expansion Act of 1962 and Sections 201 and 301 of the Trade Act of 1974, approximately $30.9 billion in import duties as of July 24, 2019 (see CBP’s trade statistics page). The table provided below shows that U.S. importers paid more than $22.1 billion in duties from the Section 301 tariffs on imports from China; more than $7 billion under the Section 232 tariffs on steel and aluminum; and another $933 million in duties under the Section 201 safeguard actions involving washing machines and solar cells.
|Trade Remedy Enforcement||Imported Products||Total Duties Assessed|
|Section 201 Duty Assessment||Washing Machines||$164,819,591.87|
|Washing Machine Parts||$1,305,815.76|
|Section 232 Duty Assessment||Aluminum||$1,897,965,757.93|
|Section 301 Duty Assessment||China||$22,111,718,487.58|
While $30.9 billion may seem significant, consider that U.S. trade – both goods and services – with China totaled an estimated $737.1 billion in 2018. According to the Office of the U.S. Trade Representative (USTR), U.S. exports to China were $179.3 billion and imports were $557.9 billion. China remains the United States’ largest trade partner in goods.
Due to China’s retaliation in the form of its own tariffs – primarily on U.S. agricultural products – the Trump administration is providing two rounds of financial support to U.S. farmers. In 2018, the U.S. Department of Agriculture (USDA) provided $12 billion in relief to farmers affected by the trade disputes with China and other countries (see USDA Announces Details of Assistance for Farmers Impacted by Unjustified Retaliation). Currently, the USDA is preparing to provide another $16 billion through USDA’s Market Facilitation Program, Food Purchase and Distribution Program and Agricultural Trade Promotion Program (see USDA Announces Details of Support Package for Farmers).