Heterogeneous impacts of the Section 301 tariffs: Evidence from the revision of product lists
利用美国301关税中豁免产品作为反事实，发现关税对中美贸易额有异质性影响，前两轮关税完全传导，第三轮传导有限，且美国进口转移少而中国出口转移显著。
Abstract In each of the three waves of the Section 301 tariffs on Chinese imports, the US government exempted some products on the originally proposed list from additional duties. Using these exempted products as the counterfactual, we identify modest but heterogeneous impacts of the tariffs on the value of US imports from China. We find a complete pass‐through for the first and second waves of tariffs. However, unlike in previous studies, we estimate a very limited tariff pass‐through of the third wave of tariffs. Finally, we find little import diversion for the US and significant export diversion for China.