» » U.S. sets new March 2 date for China tariff increases amid talks
16122018

U.S. sets new March 2 date for China tariff increases amid talks

Added by: administrator Business | Comments: 0 | Views: 4 179 |

 
 
The change has been made to the federal register since the previously scheduled effective date of January 1, 2019, to increase to 25 percent from 10 percent.

The notice does not affect the 25 percent tariff rate already applied to Chinese technological products in the amount of $ 50 billion, including semiconductors, printed circuit boards and other electronic components, cars and vehicles.
This submission was added to documents related to the USTR "Section 301” investigation regarding intellectual property practices in China, which became the basis of US tariffs on Chinese goods, which led to retaliatory strikes from Beijing.

This is due to the change in the new US-China agreement "to achieve the elimination of the actions, policies and practices covered by the investigation" after the meeting on December 1 between US President Donald Trump and Chinese President Xi Jinping in Buenos Aires. ,

The USTR statement did not indicate any expected results of the negotiations. It referred to the goals set out in a statement published by the White House to negotiate China’s structural changes over a 90-day period regarding enforcement of technology, protection of intellectual property, non-tariff barriers, cyber-invasions and theft, services and agriculture.
The USTR notice did not mention China’s moves this week to resume suspended soybean purchases in the United States or suspend a 25% fine on American cars and auto parts.

The official delay in raising the tariff rate was of little comfort for the US technology sector.

The Consumer Technology Association said Friday that US tariffs on technology imports from China currently cost $ 1 billion a month, and duties on fifth-generation mobile technology products reach $ 122 million in October, compared with $ 65,000 a year earlier.



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