[Asia Economy New York=Special Correspondent Joselgina] The Joe Biden administration has decided to extend the exemption from high tariffs on 352 Chinese products until the end of September next year.
The U.S. Trade Representative (USTR) announced on the 16th (local time) that "the exemption, which was scheduled to end this year, will be extended for nine months." The 352 products include industrial parts such as pumps, compressors, filters, valves, and motors.
Previously, the Donald Trump administration imposed a 25% high tariff on a wide range of Chinese products based on Section 301 of the Trade Act starting from July 2018. Subsequently, 549 items were exempted from tariffs, but this exemption ended at the end of 2020. The Biden administration announced in March this year that it would reapply the exemption for these 352 products out of the 549 until the end of the year.
Initially, there were expectations that the Biden administration would withdraw high tariffs on some Chinese products to stabilize prices amid record-high inflation, but this was put on hold due to worsening U.S.-China relations over issues such as the Taiwan matter.
Meanwhile, the USTR is conducting a comprehensive legal review on whether to extend tariffs on Chinese products imposed under Section 301.
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