The US would take public comments regarding exclusions from its tariffs on China, the White House announced on Tuesday, as the administration of US President Joe Biden grapples with what it views as Beijing’s failure to honor a trade deal.
On Monday, US Trade Representative (USTR) Katherine Tai (戴琪) announced that Washington would seek “frank conversations” with China over its adherence to an agreement made last year that was meant to cool commercial tensions between the two economic powers.
That deal came after Biden’s predecessor, Donald Trump, imposed tariffs on US$370 billion of Chinese products in 2018, citing trade practices Washington deemed “unfair.”
Photo: Bloomberg
However, many US firms have criticized the levies, saying that they drive up costs, as importers bear their brunt.
On Tuesday, Tai’s office announced a “targeted tariff exclusion process.”
More than 2,200 exclusions had previously been granted and 549 had been extended until most expired at the end of last year, it said in a statement.
“As these exclusions were previously found to warrant additional time, USTR will evaluate, on a case-by-case basis, the possible reinstatement of each exclusion,” the statement said.
“The focus of the evaluation will be whether ... the particular product remains available only from China,” it said.
The public comment period runs from Tuesday next week through Dec. 1, the office said, adding that it would weigh the exclusion’s effects on factors including employment, supply chains and its overall policies toward China.
European Central Bank (ECB) President Christine Lagarde is expected to step down from her role before her eight-year term ends in October next year, the Financial Times reported. Lagarde wants to leave before the French presidential election in April next year, which would allow French President Emmanuel Macron and German Chancellor Friedrich Merz to find her replacement together, the report said, citing an unidentified person familiar with her thoughts on the matter. It is not clear yet when she might exit, the report said. “President Lagarde is totally focused on her mission and has not taken any decision regarding the end of
French President Emmanuel Macron told a global artificial intelligence (AI) summit in India yesterday he was determined to ensure safe oversight of the fast-evolving technology. The EU has led the way for global regulation with its Artificial Intelligence Act, which was adopted in 2024 and is coming into force in phases. “We are determined to continue to shape the rules of the game... with our allies such as India,” Macron said in New Delhi. “Europe is not blindly focused on regulation — Europe is a space for innovation and investment, but it is a safe space.” The AI Impact Summit is the fourth
CONFUSION: Taiwan, Japan and other big exporters are cautiously monitoring the situation, while analysts said more Trump responses ate likely after his loss in court US trading partners in Asia started weighing fresh uncertainties yesterday after President Donald Trump vowed to impose a new tariff on imports, hours after the Supreme Court struck down many of the sweeping levies he used to launch a global trade war. The court’s ruling invalidated a number of tariffs that the Trump administration had imposed on Asian export powerhouses from China and South Korea to Japan and Taiwan, the world’s largest chip maker and a key player in tech supply chains. Within hours, Trump said he would impose a new 10 percent duty on US imports from all countries starting on
STRATEGIC ALLIANCE: The initiative is aimed at protecting semiconductor supply chain resilience to reduce dependence on China-dominated manufacturing hubs India yesterday joined a US-led initiative to strengthen technology cooperation among strategic allies in a move that underscores the nations’ warming ties after a brief strain over New Delhi’s unabated purchase of discounted Russian oil. The decision aligns India closely with Washington’s efforts to build secure supply chains for semiconductors, advanced manufacturing and critical technologies at a time when geopolitical competition with China is intensifying. It also signals a reset in relations following friction over energy trade and tariffs. Nations that have joined the Pax Silica framework include Japan, South Korea, the UK and Israel. “Pax Silica will be a group of nations
RSS