Market Overview

US May Extend Tariff Waiver On $34B Chinese Goods For Another Year

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US May Extend Tariff Waiver On $34B Chinese Goods For Another Year

The United States Trade Representative (USTR) is considering extending the tariff exclusions granted to certain Chinese imports to another year, the agency said on Monday.

The government trade agency had imposed an additional 25% duty on Chinese imports in July 2018.

It later granted a waiver to certain goods that aren’t produced locally in the U.S. in December 2018. This tariff exclusion is set to expire the same month this year.

The agency is inviting the public to participate in a discussion from Nov. 1 to Nov. 30 on whether it should extend this exclusion on $34 billion worth of Chinese goods to December 2020.

The USTR consideration comes at a time when many companies from both countries are losing business due to the raging trade war between the two countries.

 

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