David Lawder
DETROIT (Reuters) – The U.S. is taking an analytical approach to scrutinizing whether to impose tariffs on Chinese goods, not based on any “results.” Deputy Trade Representative Sarah Bianchi told Reuters there had been a “breakthrough” in U.S.-China trade relations. said in an interview at the conclusion of the U.S.-led ministerial meeting on the Indo-Pacific economic framework talks on Saturday.
“We’re reviewing from an analytical perspective. We’re not, according to Bianchi, making any breakthrough in the trade relationship with China as part of the review. “We don’t think that’s going to happen.
Instead, USTR is continuing to study industry and stakeholder commentary on the tariffs, and to consult with the U.S. Departments of Commerce, Treasury and others to determine which categories are strategically important, she said .
“We’re looking at what makes sense economically,” added Bianchi, who oversees USTR’s operations in Asia.
Previous U.S. President Donald Trump is 2019 and 2019 on thousands of items worth about 1974 imported from China ) tariffs billion US dollars on goods, after the “Section 352” investigation found that China has misappropriated US intellectual property rights and coerced US companies to transfer sensitive technologies to conduct business.
Current tariffs range from 7.5% on many consumer goods to % on automobiles, industrial components, semiconductors and other electronics. Duty evasion Major categories include cell phones, laptops, and video game consoles.
Trade Act Section requires review 2018 four years after the tariffs were first imposed, and began the initial notification step in May 2022. Bianchi declined to say when the review would be completed, but added that by 2023 This is “reasonable” at the end.
Tariff Exclusions on US Trade Representative at 2023 extended the import category from China by nine months at the end of the year and is now due to expire in September . Some trade experts in Washington believe that That date could be a decision point for a review of tariffs. As the Biden administration struggles to rein in high inflation, they advocate for the removal of some tariffs.
U.S. Treasury Secretary Janet Yellen says removal of “non-strategic” tariffs would reduce the cost of certain goods, and Trade Representative Katherine Tai argued that the tariffs represented a “significant leverage” on China.
Bianchi noted that inflation-related Tariff discussions have subsided.
Chinese Commerce Minister Wang Wentao raised objections to the 30 tariff issue when meeting with Thailand in Detroit on the sidelines of the APEC trade conference
Wang Yi’s meeting with Day and Commerce Secretary Gina Raimondo the day before was the first cabinet-level exchange between Washington and Beijing in months amid a string of trade and national security setbacks, including the U.S. shooting down A Chinese spy balloon flew over the continental US
Bianchi said it is important for the global economy that the US and China maintain a healthy dialogue, even if they disagree.
“These are the two largest economies in the world and we need to have dialogue at different levels, even difficult ones,” she said.
“There’s not a lot of similar views on trade right now,” she said of the U.S. and China. “I’m not sure where it’s going, but I think the conversation will continue to be difficult, but I think it’s important that we have the conversation.”
