China has retaliated in the trade war - slapping $60 billion in tariffs on more than 5,000 U.S. goods. 

 

China's Ministry of Finance announced Monday morning that China would increase tariffs on 5,140 U.S. products beginning June 1. The move is in retaliation to U.S. increases on Chinese goods that went into effect last week.

 

“China’s tariff move is in response to the U.S. unilateralism and trade protectionism,” the Chinese said in statement issued on Monday. “China hopes that the U.S. will return to the right track of bilateral trade talks, work together with China and meet each other halfway, to reach a win-win and mutually beneficial agreement on the basis of mutual respect." 

 

Wood, tariffed from 5 percent to 25 percent, is on the list. The Hardwood Federation reports:

• Oak species at 25%;
• Cherry and ash at 20%; and
• Walnut, hard maple, tulipwood and alder at 5%. 

We cannot confirm these tariff values at this time, as translated lists are not yet available. The above rates were announced in December.

Wood products facing a tariff moldings, rods, particleboard, various types of plywood, doors, charcoal, corks, and stoppers, and wicker and bamboo baskets. Furniture items include bedding, mattresses, car seats, wood chairs, furniture designed for offices, kitchens, chandeliers, and lamps. A full list can be found at the bottom of this page.

The Hardwood Federation also reported - although unconfirmed - that China may implement an exclusion process, which would provide Chinese importers of U.S. goods the opportunity for relief on certain products.

 

The June 1 start date is so both sides have more time to negotiate. Trump said he is fine with the China retaliation as long as it doesn't surpass a certain level. The stock market took a hit after the announcement.

 

“I love the position we’re in,” Trump said from the Oval Office. “I think it’s working out really well.”

 

 

 

 

 

 

 

 Raising tariffs will hurt both US & China economies + more importantly will hurt US farmers/consumers/businesses Enough is enough China needs to negotiate seriously & quit moving the goalpost Enforceable trade deal needed for certainty

 

Cailin Birch, global economist at The Economist Intelligence Unit, said she still expects the U.S. and China to reach a limited trade agreement in the next month or so because of the serious economic ramifications both countries will be dealing with otherwise.

 

“However, a cooling-off period may be necessary to allow each party to save face, before meaningful progress can be made,” she said. “And without a doubt, the risk that a deal will fail to materialize has risen considerably, now that trust has been eroded on both sides.”

 

The Chinese announced the tariffs shortly after Trump warned them not to take any action and urged President Xi to sign a new trade deal.

 

"I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries," Trump tweeted early Monday.

 

"Too expensive to buy in China,” he added. “You had a great deal, almost completed, & you backed out!"

 

Trade talks between the two countries stalled Friday without a new deal after Trump raised tariffs on $200 billion in Chinese goods to 25% from 10%, including office furniture, handbags and frozen catfish fillets, after trade talks between the two countries stalled.

 

The U.S. Trade Representative’s Office also has started the process of levying tariffs on another $325 billion in Chinese goods, a move that would mean that virtually every Chinese import that enters the U.S. will be subject to a levy.

 

 

 

 

May 13, 2019

Just hours after President Trump warned China not to retaliate against the U.S.’s latest tariff hike on Twitter, the Chinese Ministry of Finance did just that by raising the tariffs on thousands of American products worth roughly $60 billion in annual imports. Going into effect on June 1, the Chinese tariff hike is a direct response to the Trump administration’s decision to raise the tariff rate on $200 billion worth of imports from China from 10 to 25 percent on Friday, just hours after trade talks between the two countries had broken down. 

 

“China’s tariff move is in response to the U.S. unilateralism and trade protectionism,” the Chinese said in statement issued on Monday. “China hopes that the U.S. will return to the right track of bilateral trade talks, work together with China and meet each other halfway, to reach a win-win and mutually beneficial agreement on the basis of mutual respect." 

 

The U.S. is expected to respond to the Chinese announcement by levying an additional 25 percent on all remaining imports from China later on Monday, marking another escalation in the trade war that has been dragging on for more than a year now. Trump has repeatedly voiced his discontent with the trade imbalance between the world’s two largest economies, stating that the U.S. is being ripped off and losing hundreds of billions of dollars on Chinese trade every year. And while the U.S. trade deficit with China did in fact reach a record high of $419 billion in 2018, that money is neither lost nor is the large trade deficit necessarily a bad thing for the United States. In fact, the latest increase in the deficit is a sign of strength, as a strong U.S. economy and a strong dollar boost demand for Chinese goods in the U.S.

 

The full list of wood products affected:

 

• Wood and articles of wood
• Non-coniferous wood chips or wood pellets 44012200
• Sawdust, wood waste and debris, unbonded 44014000
• Other charcoal, whether or not agglomerated 44029000
• Softwood logs treated with preservatives 44031100
• Pinus koraiensis and Pinus sylvestris var. mongolica with cross-section dimensions of 15 cm and above 44032110
• Larch logs, with a cross-section of 15 cm or more 44032130
• Other fir and spruce logs, cross-sections up to 15 cm 44032400
• Beech (Oak) logs 44039100
• Birch logs with a cross-section of 15 cm or more 44039500
• Poplar logs 44039700
• Beech logs 44039800
• Other unlisted temperate non-coniferous logs 44039980
• Other logs other than coniferous wood, tropical wood treated by other methods 44039990
• Wood and wood flour 44050000
• Longitudinal, slit, planed or rotary cut pine and pine wood with a thickness of more than 6 mm 44071110
• Longitudinal sawing, slitting, planing or rotary cutting of radiata pine wood with a thickness of more than 6 mm 44071120
• Longitudinal, slit, planed or cut-cut fir and spruce for thickness over 6 mm 44071200
• Teak wood, longitudinally sawing, slitting, planing or cutting, whether or not planed, sanded or end-joined Combined, thickness over 6 mm 44072910
• Bologna wood, longitudinally sawed, slitted, sliced ​​or cut, whether flattened, sanded or ended Bonding, thickness over 6 mm 44072930
• Other tropical wood timber, by longitudinal sawing, slitting, slicing or cutting, whether or not planed, Sanding or end jointing, thickness over 6 mm 44072990
• Oak ( oak) wood, longitudinally sawing, slitting, planing or cutting, whether or not planed, sanded Or end joints, thickness greater than 6 mm 44079100
• Phytosanaceae (beech) wood, longitudinally sawed, slitted, sliced ​​or cut, whether or not Flat, sanded or end joined, thickness over 6 mm 44079200
• Birch wood, longitudinally sawing, slitting, planing or cutting, whether or not planed, sanded or end-joined Combined, thickness over 6 mm 44079600
• Other mahogany wood, by longitudinal sawing, slitting, slicing or cutting, whether or not planed, sanded or end 44079910
• Other softwood veneers not exceeding 6 mm thick 44081090
• Other veneer veneer veneers not exceeding 6 mm in thickness 44083119
• Other veneer of tropical wood veneer of non-red liu Anmu, whether planed, sanded, spliced ​​or end Joint joint, thickness not exceeding 6 mm 44083919
• Other veneer of tropical wood, not tiling, whether flattened, sanded, spliced ​​or End joint, thickness not exceeding 6 mm 44083990
• Other temperate non-coniferous veneer veneers, whether planed, sanded, spliced ​​or end Bonding, thickness not exceeding 6 mm 44089021
• Other temperate non-coniferous wood, whether planed, sanded, spliced ​​or joined, thick 44089091
• Other non-coniferous wood made of continuous shape on either side, end or side (including unfilled 44092990
• Wooden particle board, whether or not bonded with resin or other organic binder 44101100
• Wood Oriented Strand Board (OSB), whether or not bonded with resin or other organic binders 44101200
• Other wooden similar panels (eg, waffle panels), whether or not resin or other organic binders 44101900
• Medium density wood fibreboard with a thickness not exceeding 5 mm, density exceeding 0.8 g per cubic centimeter, not 44111211
• Medium density wood fibreboard, more than 5 mm thick but not exceeding 9 mm, density exceeding cubic centimeters 44111319
• Medium density wood fibreboard with a thickness of more than 9 mm, density exceeding 0.8 g per cubic centimeter, machine 44111419
• Medium-density wood fibreboard with a thickness of more than 9 mm radiated, with a density exceeding every cubic centimeter 44111421
• Other medium-density wood fibre boards of more than 9 mm thickness, density exceeding 0.5 g per cubic centimeter, 44111429
• Other medium density wood fibreboards of more than 9 mm thickness, machined or covered 44111499
• Other wood fibreboard, density exceeding 0.8 g per cubic centimeter, not machined or covered 44119210
• Other wood fibreboard, density exceeding 0.8 g per cubic centimeter, machined or covered 44119290
• Other wood fibreboards, density exceeding 0.5 g per cubic centimeter, but not exceeding 0.8 per cubic centimeter 44119390
• Other wood fibreboards, density exceeding 0.35 g per cubic centimeter, but not exceeding 0.5 per cubic centimeter 44119410
• Other bamboo plywood made of slab, not exceeding 6 mm thick 44121019
• At least one of the surface layers is tropical wood, each layer not exceeding 6 mm thick, only made of thin wood 44123100
• The other at least one surface layer is the following non-coniferous wood: eucalyptus, ash, Cyclobalanopsis (beech) 44123300
• Other at least one surface layer is temperate non-coniferous wood (except for non-coniferous wood of subheading 4412.3300) 44123410
• Other at least one surface is non-coniferous not specified in subheadings 4412.3300 and 4412.3410 44123490
• Other upper and lower layers are coniferous, each layer not exceeding 6 mm in thickness, only made of thin wood 44123900
• At least one surface is non-coniferous wood core plywood, side slat core plywood and lath core 44129410
• At least one other wooden veneer with non-coniferous wood 44129910
• Other wooden multi-layer boards 44129999
• Fortified wood in blocks, plates, strips or profiles 44130000
• Wooden boxes, boxes, crates, drums and similar packaging containers, cable reels 44151000
• Other wooden pallets, box pallets and other wooden pallets or other wooden pallets 44152090
• Other wooden tools, tool holders, tool holders, brooms and brushes, and wooden handles, and hoe 44170090
• Other wooden windows, French-style (floor) windows and wooden frames 44181090
• Wooden doors and their frames and sills 44182000
• Wooden columns and beams 44186000
• Other assembled multi-layer floors 44187500
• Other wood products for construction 44189900
• Woodcut figurines and other decorations 44201011
• Other wooden and bamboo figurines and other decorations 44201090
• Jewelry or knives wooden boxes and similar articles; non-floor wooden furniture 44209090
• Wooden hangers 44211000
• Bamboo round sticks, round bars, ice fruit sticks, tabs and similar disposable products 44219110
• Other unlisted wood products 44219990
• Granular or powdered cork (softwood, cork or cork) 45019020
• Natural cork stopper 45031000
• Blocks, plates, sheets, strips, solid cylinders, discs or pressed bricks of brick or tile of any shape 45041000
• Other pressed cork and its products 45049000
• Bamboo mats, mats and curtains 46012100
• Baskets and other products 46021910
• Baskets and other products, prepared from other plant materials 46021990
• Other products of non-plant braiding materials 46029000
• Other fibrous cellulose chemical pulp