International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
Section 301 tariff exclusions
The Office of the U.S. Trade Representative has established an exclusion process for Section 301 tariffs on China. In a series of rounds since the tariffs took effect, importers have been able to request exclusions from the tariffs, as well as extensions to existing exclusions. Many exclusions have been allowed to expire, as well. Section 301 exclusions are applicable to all importers of a given good, which may be defined as an entire tariff schedule subheading or a subset of a subheading outlined in a written description.
CBP issued the following releases on commercial trade and related matters:
Senators on the committee that oversees trade pressed U.S. Trade Representative Katherine Tai repeatedly on why the administration isn't engaged in negotiations with other countries to get them to lower their tariffs, so that U.S. exporters, particularly agricultural producers, can gain more market share. Both Democrats and Republicans questioned the decision to pursue the Indo-Pacific Economic Framework as something other than a traditional free trade agreement,
U.S. Trade Representative Katherine Tai endorsed the Level the Playing Act during a four-hour hearing in front of the House Ways and Means Committee after one of its House sponsors noted the House and the Senate are about to go to conference, and the proposal to rewrite antidumping duty and countervailing duty laws is going to be on the table.
Rep. Kevin Brady, the top Republican on the House Ways and Means Committee, said that when Republicans meet privately with U.S. Trade Representative Katherine Tai ahead of her testimony March 30, they will argue that the Section 301 exclusions announced last week (see 2203230070) were far too limited.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
After the Office of the U.S. Trade Representative agreed to reinstate 64% of expired Section 301 tariff exclusions (see 2203230070), business interests said it should go further, while the Coalition for a Prosperous America said the decision was wrongheaded.
The Office of the U.S. Trade Representative on March 23 announced the extension of 352 exclusions from Section 301 tariffs on China. The exclusions, all of which had expired, resume effect as of Oct. 12, 2021, and will remain in effect through Dec. 31, 2022, USTR said.
The U.S. Trade Representative on March 23 announced the extension of 352 exclusions from Section 301 tariffs on China. The exclusions, all of which had expired, resume effect as of Oct. 12, 2021, and will remain in effect through Dec. 31, 2022, USTR said.
July 6 marks the fourth anniversary of the List 1 Section 301 tariffs' taking effect on Chinese imports, and the 1974 Trade Act requires their expiration after four years, “unless some conditions are met,” said David Olave, a Sandler Travis associate and trade policy adviser, on a recent podcast. “No unilateral 301 action that I know has made it through the four years, so we’re about to witness trade policy procedural history,” he said.