The US has begun reviewing Section 301 tariffs imposed on Chinese products before they expire on July 6 and August 23. Some politicians have called for lower tariffs to ease consumer pressure to raise prices.
On May 3, the Office of the United States Trade Representative (USTR) said it would review the first and second installments of 25 percent tariffs imposed by former President Donald Trump on $50 billion worth of Chinese imports.
These measures were taken in accordance with a provision in Section 301 of the Commerce Act of 1974 requiring a review of necessity and effectiveness every four years.
Treasury Secretary Janet Yellen said last month that lowering US tariffs on goods from China should be considered as such a move could have the desired impact on lowering US inflation, which hit a 40-year high this year.
US begins review of Section 301 tariffs on imports from China
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Azovpromstal® 5 May 2022 г. 11:05 |
