Insight

Biden administration to maintain China tariffs while review continues

WASHINGTON (Reuters) – The Biden administration stated on Friday it would hold tariffs on a whole lot of billions of {dollars} price of Chinese language imports in place whereas it continues a statutory assessment of the duties imposed by former President Donald Trump.

The U.S. Commerce Consultant’s workplace stated in a federal discover that it obtained requests from firms and different events to take care of the “Part 301” tariffs imposed in 2018 and 2019. The feedback have been collected throughout the spring and summer time.

Primarily based on the 1974 commerce regulation underneath which the duties have been imposed, USTR will transfer on to a proper assessment of whether or not to maintain the tariffs in place, a course of that would take months.

The Biden administration had been contemplating whether or not to take away some tariffs as a approach to cut back inflationary pressures.

Reuters reported final month that consideration of this transfer had been placed on maintain following China’s navy maneuvers close to Taiwan after Home Speaker Nancy Pelosi’s go to to the island.

(Reporting by David Lawder; Enhancing by Chris Reese)



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