Tariffs: The Never-Ending Saga

On June 15, 2018, the Trump Administration took the next step in escalating trade tensions with China by imposing additional 25% tariffs on imports of more than 800 products under Section 301 of the Trade Act of 1974.¹ This announcement comes after the Administration imposed additional tariffs on imports of steel (25%) and aluminum (10%) products from nearly all countries under Section 232 of the Trade Expansion Act of 1962.

The Trump Administration has made tariffs a key element of its trade agenda. While there has been significant back and forth on which countries and industries will be subject to tariffs or may be a target of future announcements, the Administration appears poised to continue using tariffs as both a bargaining tool and a weapon. This article provides an update on the most recent tariff related developments.