The Biden administration will extend Trump-era tariffs on Chinese merchandise imports while it reviews the need for the duties.
According to Section 301 of the Trade Act of 1974, the tariffs will expire automatically after four years, but can be extended if the US Trade Representative’s office receives a request from domestic industries that benefited.
The additional duties on Chinese imports was initiated by former US President Donald Trump in 2018. The duties cover goods including industrial inputs such as microchips and chemicals, and consumer merchandise such as apparel and furniture, according to Bloomberg. In total, the US sanctioned Chinese imports were worth US$300 billion as of 2019, creating a “massive” trade deficit. China called it “unfair”.
Welcome to Sound of Hope News, my name is Daniela Wulansak.
The Biden administration will extend Trump-era tariffs on Chinese merchandise
imports, while it reviews the need for duties. According to U.S. law, tariffs usually expire
automatically after four years, but can be extended if the U.S. Trade Representative's
Office receives a request from domestic industries that benefited from the tariff.
The additional duties on Chinese imports were initiated by former U.S. President Donald Trump
in 2018. The duties cover goods including industrial inputs like microchips and chemicals
and consumer merchandise such as apparel and furniture, according to Bloomberg.
In total, the U.S.-sanctioned Chinese imports were worth U.S. $300 billion as of 2019,
creating a massive trade deficit. China called it unfair. In May, the Office of the U.S. Trade
Representative opened the window for comments and got 452 requests for them to remain.
Furthermore, President Biden is considering restricting U.S. investment in Chinese technology
companies amid growing tensions between the U.S. and China, according to people familiar with the
matter. The Commerce Department may place further restrictions on chips used for artificial
intelligence computing. Morning Consult, a firm specializing in online survey research technology,
revealed that 56% of Democrats and over 51% of Republicans favored keeping the tariffs intact.
