US considers lifting tariffs on $350 billion of Chinese goods

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 As US tariffs on $350 billion of Chinese goods are about to expire, Washington is considering whether to lift these measures.


AFP reported, US officials on May 3 said that US tariffs on hundreds of billions of dollars of Chinese imports are expected to expire in July.


President Joe Biden has been facing growing calls to lift punitive taxes imposed in the US-China trade war, as Americans face the highest inflation in more than four years. decades and companies are having difficulty sourcing.


The tax measures were first imposed in 2018 under former US President Donald Trump, affecting up to $ 350 billion in annual imports from China. The move was in retaliation for US accusations that Beijing stole Washington's intellectual property and forced technology transfers.


The above measures will expire on July 6. If a further extension is requested, these tariffs will be reviewed.


US trade officials said today they are officially reaching out to the public and sending letters to 600 companies to inquire about whether to extend the tariff measures.


A senior official with the Office of the US Trade Representative (USTR) told reporters: "Under the statutes, the tariffs will expire unless we receive a request to continue."


He said any review would look at "the impact of such actions on the US economy, including consumers".


Prior to the presidency of Donald Trump, US administrations sought to resolve issues through dialogue and moderate pressure. However, Trump's strong moves have caused retaliation from Beijing for US goods.


And although the "phase one" trade pact went into effect in February 2020, US Trade Representative Katherine Tai said Washington's tough measures had not changed Beijing.


Another official said the Office of the U.S. Trade Representative would consider comments from "all stakeholders on their views on the tariff issue, whether they want to increase, decrease (or) amend." .

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