US government studies tax review on 352 categories of imports from China
Deputy United States Trade Representative, Sarah Bianchisaid that the country is adopting a “analytical approach” on maintaining tariffs on Chinese products. The information is from Reuters.
According to the USTR (acronym for Commercial Representative Office in Portuguese)the US government will continue the dialogue with China at various levels, but which does not evaluate a “advance” in trade relations between the two countries. “We are conducting the review from an analytical perspective. We are not evaluating any progress in commercial relations […] We’re not assuming that’s going to happen.”stated.
In an interview with ReutersBianchi said the country continues to study industry and stakeholder assessment of the duties, consulting with the US Department of Commerce, Treasury and other agencies to determine which categories make strategic sense.
“We are analyzing what is economically viable”he said.
Former US President Donald Trump imposed tariffs in 2018 and 2019 on imports from China valued at about $370 billion. At the time, the measure was taken by an investigation finding that China was allegedly appropriating intellectual property and coercing US companies.
Currently, taxes range from 7.5% on some consumer goods to 25% on vehicles, industrial components, semiconductors and other electronics.
The review was required by “Section 301” of the Commerce Act 1974. Duty withdrawals on 352 import categories from China have been extended in 2022 by 9 months and are due to expire on September 30, 2023.
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