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1 (August 17, 2018)

handle is hein.crs/crseveryaaaxp0001 and id is 1 raw text is: Congressional a Research Service ~~~ ~informing the Iegs lative debate since 194___________________ Escalating Tariffs: Timeline and Potential Impact ,name redacted,, Coordinator Analyst in International Trade and Finance ,name redacted, Research Librarian ,name red acted, Specialist in Asian Trade and Finance August 17, 2018 Concerns over the U.S. trade deficit and trading partner trade practices have been a focus of the Trump Administration. Citing these concerns, the President has imposed tariffs under three U.S. laws that allow the Administration to impose trade restrictions based on certain criteria unilaterally: (1) Section 201 (Table 1) on U.S. imports of washing machines and solar products; (2) Section 232 (Table 2) on U.S. imports of steel and aluminum, and potentially autos and uranium, and (3) Section 301 (Table 3) on U.S. imports from China. In 2017, U.S. imports of goods subject to the additional tariffs, which range from 10% to 50%, totaled $80 billion (Table 4), a figure that would increase should additional proposed tariffs go into effect (Figure 1). While the tariffs may benefit some import-competing U.S. producers, they are also likely to increase costs for downstream users of imported products and some consumer prices. The Administration is likely using the tariffs in part to pressure affected countries into broader trade negotiations, such as the recently announced U.S.-EU trade liberalization talks, but it is unclear what specific outcomes the Administration is seeking. Congressional Research Service 7-.... www.crs.gov IN10943 CRS INSIGHT Prepared for Members and Committees of Conaress

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