Tariff On Apple Chargers And Cases Jumps Now At 25% [BETTER]
To summarize, in each of these four examples of products hit with 25 percent US tariffs, US imports from China declined. Reduced imports were sometimes offset by imports from other foreign sources, but not yet in other cases. Yet, these examples were not unique. In value terms, US imports from China of all other products subject to 25 percent tariffs have fallen by 17 percent, even though imports of those goods from the rest of the world are now 33 percent higher (not shown).
Tariff on Apple Chargers and Cases Jumps Now at 25%
In July 2018, China levied additional tariffs on a number of U.S. agricultural product exports. These tariffs reduced the volume of fruit exports to China.25 USDA trade statistics reveal that the value of U.S. fresh fruit exports to China reached $231 million from November 2016 to October 2017. In contrast, exports fell to $124 million from November 2018 to October 2019. Cherry exports to China declined from $122 million in 2017 to $76 million in 2019, while apple exports decreased from $20.7 million in 2017 to $13 million in 2019.26
To ease the effects of the tariffs on U.S. farmers, the USDA purchased surplus commodities in October 2019, as was done for surplus soybeans and pork. The USDA purchased $83 million of fresh apples, $104 million of citrus fruits, and about $22 million in plums.27 Following these purchases, the PPI for fresh fruits and melons increased 18.4 percent in the fourth quarter of 2019. However, prices for these agricultural products are typically higher during the winter months due to off-season availability. Therefore, it is unclear to what degree this increase in prices was driven by increased demand through the USDA program in response to the tariffs, or other factors. 350c69d7ab