Biden Administration to Offer ‘Targeted Tariff Exclusion’ on Chinese Goods

Contact Your Elected Officials
The Epoch Times Logo

WASHINGTON—The Biden administration will announce on Monday its “new strategy” on trade relations with China, which will include extending tariff exclusion on certain Chinese goods, according to senior administration officials.

U.S. Trade Representative Katherine Tai, in a speech at a Washington think tank on Monday, is planning to reveal the China trade policy of the Biden administration. Her announcement will focus on the bilateral trade agreement and the tariffs on hundreds of billions of dollars of Chinese imports imposed by the previous administration.

“First, our objective is not to escalate trade tensions with China or double down on the previous administration’s flawed strategy,” a senior administration official told reporters on Sunday during a conference call ahead of the announcement.

As part of the new trade strategy, the office of the U.S. Trade Representative (USTR) will revisit the phase one trade agreement signed between the United States and China in January last year and ask Beijing to follow through on the commitments it has made.

The phase one trade deal signed during the Trump administration requires China to buy $200 billion worth of additional U.S. goods and services during the two-year period of 2020 and 2021. Analysis of Chinese trade data by the Peterson Institute for International Economics showed that China has met about 58 percent of its purchase commitments in 2020 and 69 percent through Aug. 2021.

According to the Biden administration, results from the agreement are mixed, with the agriculture sector benefiting the most from the agreement. Beijing has met about 92 percent of its import target in agriculture but has fallen short in meeting its commitments in manufactured goods and energy.

After a comprehensive review, the administration plans to use the enforcement mechanism under the agreement to ensure that China meets those commitments.

“Second, we will start a targeted tariff exclusion process. We will also keep open the potential for additional exclusion processes in the future,” the official said.

President Joe Biden has maintained the tariffs on nearly $360 billion worth of Chinese goods enacted by the previous administration.

By Emel Akan

Read Full Article on TheEpochTimes.com

The Thinking Conservative
The Thinking Conservativehttps://www.thethinkingconservative.com/
The goal of THE THINKING CONSERVATIVE is to help us educate ourselves on conservative topics of importance to our freedom and our pursuit of happiness. We do this by sharing conservative opinions on all kinds of subjects, from all types of people, and all kinds of media, in a way that will challenge our perceptions and help us to make educated choices.

Trump’s Proposal For NATO To Stop Buying Russian Oil & Start Tariffing China Is Unrealistic

Trump proposed on social media that NATO stop buying Russian oil and start tariffing China 50-100% as part of his plan for ending the Ukrainian Conflict.

The Choices We Make

Death and disagreement are inevitable. Love and hate are choices. We will all die. Before we do, what choices will we make?

Elon Musk Speaks at Unite the Kingdom Rally

Tommy Robinson held rally, with Elon Musk appearing virtually, calling attention to leftist politicians who allow foreign immigrants to invade England.

Doxed Democrats Are Getting Fired Left and Left

Not a misprint because a title of “left and...

Hold Up, Feds, Without Federalism, There Is No USA

Federalism is essential to governing the U.S., yet the federal government is undermining it by bribing states to implement unnecessary federal programs.

Driver Rams Car Into FBI Pittsburgh Gate in Potential Act of Terror, Official Says

Driver crashes car into FBI Pittsburgh office gate in a suspected targeted attack the agency says may be an act of terror against the bureau.

Poland Open to Hosting French Nuclear Arms on Its Soil, President Says

Poland does not rule out possibility of hosting French nuclear weapons on its territory, country’s president, Nawrocki, said in remarks to French media.

RFK Jr. Plans to Change Childhood Vaccine Schedule, Ousted CDC Director Says

Health Secretary Robert F. Kennedy Jr. plans to change the immunization schedule for children, Susan Monare, fired director of the CDC testified.

New Details Emerge in Kirk’s Assassination as Suspect Faces Death Penalty—What to Know

New details have emerged in the assassination of Charlie Kirk by suspect Tyler Robinson following the alleged shooter’s apprehension by authorities.

Rubio Says US Visa Revocations Underway After Charlie Kirk Death Celebrations

SoS Marco Rubio said foreign nationals who made celebratory comments over Charlie Kirk’s assassination will have their U.S. visas revoked.

Trump Supports Designating Antifa a Terrorist Organization

President Trump said he would support designating the antifa movement a terrorist organization in the wake of Charlie Kirk’s assassination last week.

US Conducts Strike on Another Drug Boat From Venezuela: Trump

Three people were killed in a U.S. strike on a Venezuelan drug boat, President Donald Trump announced on Sept. 15.

Trump Signs Memo Targeting Direct-to-Consumer Pharmaceutical Advertising

President Trump signed a memo to ensure drug ads give fair, balanced, and complete information to protect and inform American consumers.
spot_img

Related Articles

Popular Categories

MAGA Business Central