WASHINGTON – The Biden administration is considering “all options” as it reviews potential changes to U.S. tariffs on Chinese imports, including tariff exemptions and new trade investigations in a shift of focus to strategic concerns with Beijing, Deputy U.S. Trade Representative Sarah Bianchi said Thursday.
Bianchi told Reuters in an interview that the agency seeks to address long-term challenges from China and “get a tariff structure that really makes sense.”
“We are looking at everything, and what we are focusing on is ensuring that we once again have a long-term reorientation of relations with China, focusing on some of the concerns … such as non-market practices and economic coercion.” said Mrs. Bianchi.
US President Joe Biden has said he is considering removing some of the tariffs imposed on Chinese goods for hundreds of billions of dollars by his predecessor Donald Trump in 2018 and 2019 amid a bitter trade war between the world’s two largest economies. His administration is looking for ways to cool inflation, and industry groups have called for tariff cuts to reduce costs for businesses and consumers.
While an initial $ 50 billion round of tariffs on strategic and industrial goods from China resulted in a so-called Section 301 investigation into Beijing’s wrongful appropriation of US technology, dueling rounds of retaliation set US $ 300 billion more on imports, including consumer products. , from bikes to clothes to Bluetooth devices.
US Treasury Secretary Janet Yellen has argued that some taxes harm consumers and should be removed, while US Trade Representative Katherine Tai has argued that tariffs should be seen as part of an overall strategy to pressure China to meet its trade obligations and stop abuses. economic practice. . Read the full story.
China has also argued that tariff reductions would reduce costs for U.S. consumers. China’s ambassador to the United States, Qin Gang, has said the tariffs “not only hurt China but hurt America.”
Ms. Bianchi, asked if the tariff decision could result in both the removal of some tariffs on consumer goods and the launch of a new study of China’s industrial subsidies and other practices, saying: “Everything is on the table right now.”
She said the USTR has provided some relief from China’s tariffs by reintroducing 352 expired product-specific tariff exemptions of up to 25%. Read the full story More than 140 members of Congress have called for the list to be expanded. Read the full story
The USTR conducts a statutory four-year review of the Section 301 tariffs, which can last for several months. The agency collects comments from industry participants in two parties ending July 5 and August 22. Read the full story – Reuters