U.S. reinstates 352 product exclusions from China tariffs -Breaking
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© Reuters. FILE PHOTO – Ambassador Katherine Tai of the United States of America speaks to media members following a visit of a silicon wafer manufacturing plant in Bay City, Michigan by South Korean semiconductor company SK Siltron CSS. This was on March 16, 2022. WASHINGTON (Reuters] -The U.S. Trade Representative’s Office announced on Wednesday that it has restored 352 exempted product exemptions from U.S. Section 301 duties on Chinese imports. It is well below the 549 exclusions which it was originally considering.
The reinstated product exclusions https://ustr.gov/sites/default/files/notices/FRN%20for%20Notice%20of%20Reinstatement.pdf will be effective retroactively from Oct. 12, 2021 and extend through Dec. 31, 2022, USTR said. These exclusions cover the $370 billion in Chinese imports, which were initially targeted by Trump’s punitive tariffs ranged from 7.5% to 25 percent.
USTR released the following list: industrial components, including pumps and electric engines, some car parts and chemicals and backpacks.
To provide relief for certain retailers and industries, Trump’s administration granted exclusions to tariffs that included more than 2,200. Many were permitted to expire. However, 549 exclusions were granted for an additional year and expired at the beginning of 2020.
U.S. Trade Representative Katherine Tai launched last October a review to determine whether these 549 exclusions could be reinstated in her plan to face China over its trade practices.
A series of virtual talks with Chinese counterparts has not resulted in any improvement in China’s performance since Trump’s initial trade deal with Beijing.
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