The United States will impose tariffs on imported stainless steel products from China starting from August 1st-Zhejiang Benji Stainless Steel Co., Ltd

On May 22, local time, the Office of the United States Trade Representative (USTR) announced that some measures to significantly increase tariffs on a series of Chinese imported goods, including electric vehicles and their batteries, medical products, key minerals, solar cells, steel and aluminum, will take effect on August 1, 2024. In addition, for semiconductor products, the United States will impose a 50% tariff starting from January 1, 2025; Starting from January 1, 2026, a 25% tariff will be imposed on lithium-ion non electric vehicle batteries.
Previously, the United States imposed a 7.5% additional tax on most imported stainless steel materials from China. After this adjustment, the tax rate for stainless steel products shown in the table below will be increased to 25%, which will take effect on August 1, 2024.
In 2023, Chinese Mainland will export 65400 tons of stainless steel materials to the United States, accounting for 1.76% of its total exports. Stainless steel tableware and kitchenware products are not involved.
Overall, this measure has limited impact on domestic stainless steel exports.

Zhejiang Benji Stainless Steel Co., Ltd.,