The United States has once again extended tariff exemptions for hundreds of Chinese products that were previously subjected to punitive duties, according to US trade officials. The exemptions, which were set to expire on December 31, have now been prolonged until May 31, 2024, as announced by the United States Trade Representative (USTR). The USTR stated that this extension will facilitate the orderly conclusion of the exclusions, while also mentioning the possibility of granting additional time for shifting sourcing to the US or other countries.
While the extension was welcomed by the business group Americans for Free Trade as a means of providing economic relief to American businesses, they expressed frustration over the lack of notice from the USTR, making it challenging for businesses to plan accordingly.
The original sanctions were implemented during the administration of former US President Donald Trump, who imposed tariffs on $370 billion worth of Chinese products due to unfair trade practices. However, the USTR established a process for requesting and granting exclusions from these measures.
The recent extension applies to 352 Chinese products that were previously subjected to punitive duties, as well as an additional 77 exclusions related to Covid-19. Tensions between the United States and China have escalated in recent years, with conflicts arising over various issues such as human rights and export controls.
Following a summit between US President Joe Biden and Chinese President Xi Jinping in November, US Commerce Secretary Gina Raimondo held talks with her Chinese counterpart, Wang Wentao, and pledged to have further in-person discussions in early 2024.
The US justifies its export restrictions, which aim to limit China’s access to advanced chips crucial for the development of artificial intelligence technology and cutting-edge weapons, as a national security measure. However, Beijing has dismissed these concerns, with President Xi expressing that such actions undermine China’s legitimate interests.
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