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1 [1] (July 31, 2018)

handle is hein.crs/crsmthzzbgz0001 and id is 1 raw text is: CRS INSIGHT Escalating Tariffs: Timeline and Potential Impact July 31, 2018 (IN10943) Related Author * Brock R, Williams Brock R. Williams, Coordinator, Analyst in International Trade and Finance (bwilliamsacrs.loc.gov, 7-1157) Keigh E. Hammond, Research Librarian (khammondligc rsLcgov, 7-2393) Wayne M. Morrison, Specialist in Asian Trade and Finance (morison(Thr , 7-7767) 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 () 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%-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 trad liberalization talks, but it is unclear what specific outcomes the Administration is seeking. Figure 1. Trump Administration Tariffs and Affected Imports IS 1f~9 U b i I on AL 1 11111 L I S 0 11 i 0 rt $7.2 hLl Source: CRS calculations with data from U.S. Census Bureau sourced through Global Trade

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