In retaliation for tariffs being imposed by the U.S. Administration on $16 billion worth of Chinese goods, the Chinese government announced 25 percent import tariffs on $16 billion worth of American goods, and the list includes ALL scrap commodities, including paper and fiber stocks. These tariffs went into effect on August 23.
that can pass the import restrictions in place by China since the beginning of the year, that material is also now 25 percent more expensive. We are hearing from contacts in China that the announcement has caused much distress among Chinese consumers of U.S. scrap commodities, especially for grades that are hard to obtain from suppliers in other regions. We have no doubt that these tariffs will impair the already diminishing scrap exports from the United States to China. This is in line with other reports that the trade war has had an impact on the Chinese economy across many sectors.
ISRI President Robin Wiener recently sent a letter
to U.S. Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer informing them of the distress to the U.S. recycling industry caused by a combination of China’s import policies and the tariff war and appealing for them to return to the negotiating table with the Chinese.