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China Tariffs Will Stay in Place Despite Review, Says Biden

The Biden administration had been mulling over whether to scrap some tariffs in a bid to ease inflationary pressures in the US


U.S. President Joe Biden waves as he walks towards Marine One to depart for a weekend at Camp David from the White House in Washington, U.S., September 2, 2022. REUTERS/Jonathan Ernst
US President Joe Biden waves as he walks towards Marine One to depart for a weekend at Camp David from the White House in Washington, US, on September 2, 2022. Photo: Reuters

 

US President Joe Biden has said tariffs on hundreds of billions of dollars worth of Chinese imports will remain in force while Washington reviews the raft of penalties imposed by his predecessor Donald Trump.

The US Trade Representative’s office said in a federal notice that it had received requests from companies and other interested parties to maintain the “Section 301” tariffs imposed in 2018 and 2019. The comments were collected during the spring and summer. 

 

Also on AF: Housing, Covid Woes See JPMorgan Cut China Growth Forecasts

 

Based on the 1974 trade law under which the duties were imposed, USTR will move on to a formal review of whether to keep the tariffs in place, a process that could take months.

The Biden administration had been considering whether to remove some tariffs as a way to reduce inflationary pressures.

Reuters reported last month that consideration of this move had been put on hold following China’s military manoeuvres near Taiwan after House Speaker Nancy Pelosi’s visit to the island.

   

  • Reuters with additional editing by Sean O’Meara

 

Read more:

US Reassessing China Tariffs After Harsh Taiwan Response

US Ponders China Tariffs, Pause on Fuel Tax to Cut Inflation

Cutting China Tariffs Easier Than Fighting Inflation, USTR Says

 

 

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.