Day 748: July 22 – US seeks public comments to exclude Chinese imports from Section 301 tariffs
The Office of the US Trade Representative (USTR) has announced 37 exemption lists, which excluded specific Chinese imports from US additional tariffs. However, the exemption rate is not high with 84 percent of the exclusion requests having been rejected by the USTR until January 31, 2020. With the COVID-19 pandemic worsening in the US, the USTR is now prioritizing the review of requests concerning medical products. It is also seeking public comments on whether to remove additional products subject to Section 301 tariffs that are necessary to the US response to COVID-19.
Day 782: August 25 – US, China hold trade talks, act optimistic on phase one trade deal
China’s Vice Premier Liu He, US Trade Representative Robert Lighthizer, and Treasury Secretary Steven Mnuchin talked trade matters on that morning. “The two sides agreed to create conditions and atmosphere to continue pushing forward the implementation of the US-China phase one trade agreement,” according to a statement put forth by the Ministry of Commerce of China.
The office of the US Trade Representative (USTR) also released an announcement, speaking positively on the trade deal. “The parties addressed steps that China has taken to effectuate structural changes called for by the Agreement that will ensure greater protection for intellectual property rights, remove impediments to American companies in the areas of financial services and agriculture, and eliminate forced technology transfer. The parties also discussed the significant increases in purchases of U.S. products by China as well as future actions needed to implement the agreement,” said the USTR.
The call is a signal that both sides are still committed to the implementation of the agreement.
Total US tariffs applied exclusively to Chinese goods: US$550 billion
Total Chinese tariffs applied exclusively to US goods: US$185 billion
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