The Potential Economic Impact of Sustained, Significant Tariffs on Imports from China
Brief Published on February 21, 2025A 10% tariff on all imports from China recently took effect, with a higher levy of 25% on steel and aluminum. China is an important US trading partner, with 2024 imports of more than $438.9 billion and exports of $143.5 billion. Top imports include various types of consumer electronics, computer equipment, machinery, and toys. In addition, US imports of iron and steel from China totaled almost $12.0 billion last year. Many of these products are integral to the US manufacturing supply chain as well as important to consumers. China is also the source of large proportions of specific products such as computers and related equipment.
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