By SEMA Washington, D.C., Staff
The U.S. Trade Representative (USTR) is reviewing comments on 25% tariffs that may be imposed on more than $300 billion worth of imports from China. President Trump could impose the tariffs if current trade negotiations between the United States and China are unsuccessful.
While supporting the Administration’s efforts to protect intellectual property rights, eliminate forced technology transfers and address currency manipulation, among other issues, SEMA submitted comments voicing concern that U.S. tariffs currently being imposed and threatened may be counterproductive and injurious to American businesses, workers and consumers.
The U.S. has already imposed 25% tariffs on three separate groups of Chinese imports. The so-called List 3 imports cover about $200 billion worth of goods, including most auto parts, from engines and metal fasteners to tires and brake pads. “List 1” and “List 2” goods are valued at $50 billion and include some miscellaneous metal and rubber parts for auto equipment, machinery, tools and measurement devices. The final “List 4” goods worth more than $300 billion would cover virtually anything from China that has not already been subject to a tariff.
The U.S./China trade negotiations are expected to be discussed when President Donald Trump and Chinese President Xi Jinping attend the G20 summit on June 28–29.
For more information, contact Stuart Gosswein at email@example.com.