The Trump management Friday stated it was soliciting public comments on lifting further taxes on Chinese imports that could support the U.S. battle the coronavirus pandemic, exhibiting some flexibility in its trade battle against Beijing.
The U.S. Trade Representative’s (USTR) office mentioned it would permit members of the public, companies and government companies “to submit comments if they believe further changes to the Section 301 tariffs could be necessary”
The USTR has, in recent weeks, offered “Section 301” tariff exclusions for certain medical products from China, along with medical masks, examination gloves and antiseptic wipes.
However, as it battles to attempt to keep the U.S. economy from falling amid quarantine orders and paused commerce, the Trump administration to date has been resistant to broader removals of tariffs slapped over the past 20 months on around $370 billion worth of Chinese imports yearly, despite calls from the sector that this is able to be an instant tax cut valued at tens of billions of dollars.
Trump considers his trade strain on China among the largest achievements of his presidency and a prime argument for re-election in November.
The trade war has struck a vast range of Chinese items with tariffs, from machinery and chemical feedstocks to semiconductors, printed circuit board, and consumer items.
In return, China has struck U.S. farm and other products with retaliatory tariffs; however, it has committed to vastly increase purchases of those items under the interim trade agreement that took effect February 15.