A long list of products, ranging from Canadian made steel and aluminum to American made Harley-Davidson motorcycles and Levi Strauss Jeans, has been hit with tariffs or counter tariffs. See below for the complete list of tariffed products in Canada, the EU, China and the U.S.
|Canada||On June 29, 2018, the Government of Canada released its final list of tariff items that will be applied as retaliatory tariffs to U.S. steel, aluminum and other products. These countermeasures are in response to the 25% Steel Tariff and the 10% Aluminum Tariff applied by the U.S. to Canadian origin goods. The countermeasures will come into effect on July 1 and remain in place until the U.S. removes its trade measures against Canada.|
|EU||The European Commission in Brussels has approved a 25% duty on 2.8 billion euros (US$3.2 billion) of U.S. made products the EU imports, including Harley-Davidson Inc. motorcycles, Levi Strauss & Co. jeans and bourbon whiskey. A separate 10% levy is being applied to U.S. playing cards imported into the bloc. The impact was almost immediate as Harley Davidson has already announced it is moving some manufacturing out of the U.S. to avoid the new tariffs applied by the EU.|
|China||In direct response to U.S. tariffs on Chinese products, China's Ministry of Commerce has announced it will impose, effective July 6, a 25% tariff on U.S. products with a total value of US$34 billion. The targeted products include auto and dairy products. Additional tariffs on oil, chemical and medical equipment, totaling US$16 billion, could follow, but the date of implementation has not been announced. U.S. exports $1 billion worth of crude oil to China monthly.|
|USA||After hearing about the Chinese tariffs on U.S. products, President Trump promised to implement in July retaliatory tariffs on China products, with an additional list of products to undergo public comment, having a total value of $50 billion. The proposed tariffs have already been countered and re-countered and the U.S. is now threatening an additional $200 billion in tariffs if China does not back down.|
Tip #29 – Cargo Liability versus Cargo Insurance
Don't make the mistake of assuming that Cargo Liability and Cargo Insurance are the same thing. They are not.