USTR reinstates tariffs on 352 Chinese products

The Biden Administration has reinstated 352 from U.S. “Section 301” tariffs on Chinese imports, effective retroactively from October 12, 2021 and extended through Dec. 31, 2022, said the USTR.

The move covers a wide range of Chinese products worth around $370 billion that former president Donald Trump hit with punitive tariffs of 7.5% to 25%.

The list released by USTR includes industrial components such as pumps and electric motors, certain car parts and chemicals, backpacks, bicycles, vacuum cleaners and other consumer goods.

China has not met its obligations under the Trump’s “Phase 1” trade deal. A series of virtual meetings by the USTR along with her Chinese counterparts have yielded little improvement in China’s performance under Trump’s “Phase 1” trade deal.

Categories: Creativity, Economy & Finance, Entrepreneurship, Geopolitics, HR & Organization, Regulations & Legal, Strategy

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