China has announced a new 25% tariff on imports of waste from the US as the trade dispute between the two continues.
The Chinese Ministry of Commerce said yesterday that the tariff would be imposed on around $16bn (£12.4bn)-worth of imports from the US, starting from 23 August.
Commodities affected will include at least 10 waste materials, including plastics, paper, ferrous metals and aluminium. It will also include chemicals, crude oil, diesel, bikes and cars, medical equipment and energy products.
The latest tariffs come after the Office of the US Trade Representative announced it would collect 25% tariffs on an additional $16bn-worth of Chinese imports from 23 August.
The Institute of Scrap Recycling Industries (ISRI) in the US said the announcement has caused “consternation” among Chinese consumers of US scrap commodities.
“Although these tariffs will not be levied on imports from other countries, it is our understanding that other regions may not be able to fulfill all of China’s demand,” ISRI said in a statement.
“ISRI regrets that the trade dispute between the US and China continues to escalate without any indication that the two governments will be negotiating an agreement on trade.
”There is no doubt that these tariffs will impair the already diminishing scrap exports from the US to China.”
ISRI said that, last year, the US exported $5.6bn-worth of scrap to China. In the first six months of this year, US scrap exports to China were worth only $2.2bn, a decrease of 24%.