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China Urges Us to 'immediately' Lift All Tariffs on Chinese Goods

China Urges US to ‘Immediately’ Lift All Tariffs on Chinese Goods

BEIJING – The United States should immediately lift all tariffs on Chinese goods, the Chinese commerce ministry said on Thursday, ahead of an announcement by the Biden administration on expected hikes in levies on Chinese-made items, including electric vehicles.

The U.S. is expected to make its final determination in the coming days after delaying a decision twice, as it continued to review proposed modifications to levies on Chinese goods imposed under former president Donald Trump in 2018 and 2019.

Initially, the higher duties of 100% on EVs, 50% on semiconductors and solar cells, and 25% on lithium-ion batteries and key minerals, steel and aluminum, ship-to-shore cranes, and syringes were due to take effect on August 1.

But the U.S. Trade Representative’s Office on July 30 delayed implementation, saying it needed more time to study more than 1,100 public comments from industry. It set a new deadline of August 31, which was further delayed by another deferment.

The latest delay came after White House National Security Adviser Jake Sullivan held several days of talks in Beijing, including a meeting with Chinese President Xi Jinping where both sides emphasized the need to manage the U.S.-China relationship.

Imposing tariffs on Chinese goods is “adding insult to injury,” Chinese Commerce Ministry spokesperson He Yongqian said at a regular news conference on Thursday.

“China has made solemn representations to the United States on the issue of the 301 tariffs many times.”

A China-U.S. commerce and trade working group is due to hold a second meeting in the northern Chinese city of Tianjin on Sept. 7. The first was held in April.

The two sides are expected to have in-depth talks on a wide range of topics including their respective concerns about economic and trade policies.

(Source: ReutersReuters)

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Edward Cooke
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.