Economy

China Calls on US to ‘Immediately’ Remove All Tariffs on Chinese Goods, According to Reuters

The Chinese commerce ministry stated on Thursday that the United States should promptly eliminate all tariffs on Chinese imports. This announcement comes as the Biden administration is expected to announce potential increases in tariffs on Chinese-made products, spanning electric vehicles and other goods.

The U.S. is on the verge of making a final decision after previously postponing it twice. This review focuses on tariff modifications imposed during former President Donald Trump’s administration in 2018 and 2019.

Initially, the higher tariffs included 100% on electric vehicles, 50% on semiconductors and solar cells, and 25% on lithium-ion batteries, key minerals, steel, aluminum, ship-to-shore cranes, and syringes. These tariffs were set to take effect on August 1. However, the U.S. Trade Representative’s Office delayed the implementation on July 30, citing the need for further analysis of over 1,100 public comments from industry stakeholders. A new deadline was established for August 31, which was subsequently postponed again.

The most recent delay followed discussions held by White House National Security Advisor Jake Sullivan in Beijing, which included a meeting with Chinese President Xi Jinping where both parties highlighted the importance of managing the U.S.-China relationship.

Chinese commerce ministry spokesperson He Yongqian expressed at a press conference that imposing these tariffs is “adding insult to injury.” He emphasized that China has formally communicated its concerns regarding the 301 tariffs to the U.S. multiple times.

Additionally, a U.S.-China commerce and trade working group is set to convene for its second meeting in Tianjin on September 7, with the first meeting having taken place in April. Both sides are expected to engage in detailed discussions on a variety of economic and trade policy concerns.

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