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US Tariffs on Metals, Some China Goods Raised American Prices

In a section of “additional views” attached to the report, he said that it paints an incomplete picture because it doesn’t describe or estimate the impact of China’s unfair trade practices for years that led Trump to impose the tariffs, poor results in getting Beijing to change its behavior prior to the duties, or the cost of failing to respond to China’s behavior.

Across all affected sectors, the duties lowered Chinese imports by 13% during 2018 to 2021, raised US output by 0.4% and increased prices of US products by 0.2%.

The ITC also looked at duties on inbound steel and aluminum shipments under section 232 of the Trade Expansion Act of 1962 in the same year, tariffs instituted to protect national security. It found that they reduced imports of affected steel products by 24%, raised US prices by 2.4% and increased American production by 1.9%. Aluminum imports fell 31%, while prices in the US rose 1.6% and local output climbed 3.6%.

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