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1 (September 24, 2018)

handle is hein.crs/crseveryaaaye0001 and id is 1 raw text is: SCongressional ____ ~ Research Service nformrng the Iegiative debate since 19!4 Escalating Tariffs: Potential Impacts ,name redacted,, Coordinator Specialist in International Trade and Finance ,name redacted, Specialist in Asian Trade and Finance ,name redacted, Research Librarian Updated September 24, 2018 Concerns over trading partner trade practices and the U.S. trade deficit have been a focus of the Trump Administration. For a timeline of recent actions, see CRS Insight 1N 10943, Escalating Tariffs: Timeline. Citing these concerns and others, the President has imposed tariffs under three U.S. laws and authorities (Figure 1) that allow the Administration to unilaterally impose trade restrictions: (1) Section 201 on U.S. imports of washing machines and solar products; (2) Section 232 on U.S. imports of steel and aluminum, and potentially autos and uranium, and (3) Section 301 on U.S. imports from China. Annual U.S. imports of goods subject to the additional tariffs, which range from 10% to 50%, totaled $282 billion in 2017 (Table 1). All formally proposed tariffs are now in effect, but the President has informally raised the prospect of tariffs on an additional $267 billion of U.S. annual imports from China, and, pending a Section 232 investigation, approximately $361 billion of U.S. auto and parts imports. While the tariffs may benefit import-competing U.S. producers, they are also likely to increase costs for downstream users of imported products and consumers. The Administration could be using the tariffs in part to pressure affected countries into broader trade negotiations, such as the U.S.-EU trade liberalization talks, but it is unclear what specific outcomes the Administration is seeking. Congressional Research Service 7.... www.crs.gov IN10971 CRS INSIGHT Prepared for Members and Committees of Congress

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