US business groups wants US to cut import tariffs despite China not complying to Phase 1 trade commitments

More than 36 influential business groups from the United States and asked U.S. President Joe Biden’s administration to restart trade talks with China; they have also asked that Washington cut its tariffs on Chinese exports to the United States, said a report from the Wall Street.

The United States had imposed tariffs on Chinese exports to the US to force Beijing to fulfills its obligations under its 2020 Phase One trade pact with the United States.

In a letter to U.S. Trade Representative Katherine Tai and Treasury Secretary Janet Yellen, the business groups said, Beijing had met “important benchmarks and commitments” in the agreement, including opening up its markets to U.S. financial institutions and reducing some regulatory barriers to U.S. agricultural exports to China.

“A worker-centered trade agenda should account for the costs that U.S. and Chinese tariffs impose on Americans here and at home and remove tariffs that harm U.S. interests,” reads the report.



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