On June 15, 2018, the U.S. Trade Representative (USTR) announced a 25% import tariff on 1,102 separate tariff lines that cover approximately $50 billion of Chinese goods. These tariffs will be imposed in two tranches. The first includes $34 billion worth of Chinese imports announced in April from the aerospace, information and communication technology, robotics, and machinery industries, which will go into effect on July 6, 2018. The second covers an additional $16 billion in imports, which will not go into effect until USTR has conducted a public notice and comment process. USTR stated that it will provide an opportunity for importers to apply for product-specific exclusions in the next few weeks. China responded with reciprocal tariffs mirroring the U.S. approach in terms of value and timing. These actions represent the latest development in an increasingly deepening trade war between the United States and China, and will have the effect of increasing prices on a range of imported goods and downstream products.