DETROIT: The United States is taking an analytical approach to its review of whether to keep tariffs on Chinese goods in place and will not base outcomes on any 'breakthrough' in US-China trade relations, Deputy US Trade Representative Sarah Bianchi told Reuters. The Biden administration is not assuming an
DETROIT: The United States is taking an analytical approach to its review of whether to keep tariffs on Chinese goods in place and will not base outcomes on any"breakthrough" in US-China trade relations, Deputy US Trade Representative Sarah Bianchi told Reuters.
Instead, USTR is continuing to study industry and stakeholder comments on the duties consulting with the US Commerce Department, the Treasury and other agencies to determine which categories make strategic sense, she said. The duties currently range from 7.5 per cent on many consumer goods to 25 per cent on vehicles, industrial components, semiconductors and other electronics. Among the major categories that escaped tariffs were cellphones, laptop computers and videogame consoles.
US Treasury Secretary Janet Yellen that eliminating"non-strategic" tariffs would reduce costs for specific goods, while Trade Representative Katherine Tai argued that the duties represent"significant leverage" over China. Wang's meeting with Tai and Commerce Secretary Gina Raimondo the day before were the first cabinet-level exchanges between Washington and Beijing in months amid a series of trade and national security setbacks, including the US downing of a Chinese spy balloon that transited the continental US.
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