Daily Management Review

US ready to partially lift duties on imports from China


The US authorities have announced that they are ready to make exceptions to a number of duties on Chinese imports imposed by Donald Trump's administration.

Taymaz Valley
Taymaz Valley
The tariffs, which average more than 15%, now cover $370bn worth of shipments to the US. The duty cuts are likely to be driven primarily by rising costs for US manufacturers and importers, although China's implementation of the first phase of the January 2020 trade agreement remains far from the target levels.

US Trade Representative Katherine Tai said Washington was ready to start "targeted" exemptions for Chinese goods that are subject to increased duties. 

Now they cover $370 billion worth of imports from China. Businesses have already asked for lower tariffs on goods that raise costs for manufacturers: rising prices on components and raw materials amid supply problems is considered one of the main drivers of industrial inflation, which in turn is reflected in consumer prices in August.

Katherine Tai said the United States would continue discussions on China's policy to support its own industry, noting that Washington remained concerned about "unfair trade practices" but that the goal of the talks would not be to strengthen trade discord.

At the same time, the country's Commerce Department said that China had not met all the terms of the trade deal struck by the Donald Trump administration in January 2020.

source: cnn.com