{"id":9217,"date":"2022-05-06T16:35:25","date_gmt":"2022-05-06T16:35:25","guid":{"rendered":"https:\/\/asia-ibs.com\/v2\/ustr-issues-notice-on-possible-termination-of-section-301-sanctions-on-china\/"},"modified":"2022-05-06T16:35:25","modified_gmt":"2022-05-06T16:35:25","slug":"ustr-issues-notice-on-possible-termination-of-section-301-sanctions-on-china","status":"publish","type":"post","link":"https:\/\/asia-ibs.com\/en\/ustr-issues-notice-on-possible-termination-of-section-301-sanctions-on-china\/","title":{"rendered":"USTR Issues Notice on Possible Termination of Section 301 Sanctions on China"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">The Office of the United States Trade Representative is scheduled to issue a notice this week regarding the possible termination of Section 301 tariffs on Chinese products worth 370 billion dollars.<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The&nbsp;<strong>Office of the United States Trade Representative<\/strong>&nbsp;(UTR) is scheduled to issue a notice this week regarding the possible termination of Section 301 tariffs on Chinese products worth 370 billion dollars.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The notice opens up a range of possibilities regarding those sanctions, from continuation or modification&nbsp;<a href=\"https:\/\/www.eleconomista.com.mx\/empresas\/Mexico-se-afianza-como-proveedor-lider-de-equipo-de-transporte-en-EU-20211117-0026.html\">to the termination of the tariffs<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To initiate this process, the USTR published a notice in the US government&#8217;s official journal, the Federal Register.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After the USTR issued its report on the outcome of its Section 301 investigation, it determined that imposing&nbsp;<strong>tariffs on US imports<\/strong>&nbsp;from China worth approximately 50 billion dollars was an appropriate response.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Consequently, on June 20, 2018, the USTR&nbsp;<a href=\"https:\/\/www.eleconomista.com.mx\/empresas\/China-amplia-ventaja-sobre-EU-en-exportaciones-20210906-0023.html\">issued a list of products covered by the first round of tariffs<\/a>&nbsp;(List 1), with an annual trade value of approximately 34 billion dollars.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The USTR then issued a second list of products (List 2), covering approximately 16 billion dollars in imports, on August 16, 2018.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Subsequently, starting May 10, 2019, the United States applied a 25% tariff to products imported from China with an annual value of nearly 200 billion dollars. That same basket of products had already been subject to a 10% tariff since September 24, 2018.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Then-President&nbsp;<strong>Donald Trump<\/strong>&nbsp;authorized the tariff increase under Section 301 of the&nbsp;<strong>US Trade Act of 1974<\/strong>, one of the principal legal means by which that country enforces US rights under trade agreements and addresses \u201cunfair\u201d foreign barriers to US exports.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By way of a more detailed summary, the Section 301 sanctions against China have been applied in three stages. The first, in effect since July 6, 2018, consisted of setting a 25% tariff on 818 imported Chinese products with an annual value of 32.3 billion dollars.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Subsequently, the United States implemented the second stage, establishing a 25% tariff on 279 imported Chinese products, with an annual value of 13.7 billion dollars, in effect since August 23, 2018.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, the third stage, in effect since September 24, 2018, was implemented first with a 10% tariff on 5,745 Chinese products imported by the United States worth 188.9 billion dollars, and then, as of May 10, with a 25% tariff on the same basket.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Other sanctions have also been applied, while exceptions have been made for certain companies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source: <a href=\"https:\/\/www.eleconomista.com.mx\/empresas\/USTR-notifica-posible-conclusion-de-sanciones-a-China-con-la-Seccion-301-20220503-0055.html\">El Economista<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Office of the United States Trade Representative is scheduled to issue a notice this week regarding the possible termination of Section 301 tariffs on Chinese products worth 370 billion dollars. The&nbsp;Office of the United States Trade Representative&nbsp;(UTR) is scheduled to issue a notice this week regarding the possible termination of Section 301 tariffs on [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":8482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[50,51],"tags":[],"class_list":["post-9217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economia","category-politica"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USTR Issues Notice on Possible Termination of Section 301 Sanctions on China - ASIA IBS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/asia-ibs.com\/en\/ustr-issues-notice-on-possible-termination-of-section-301-sanctions-on-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USTR Issues Notice on Possible Termination of Section 301 Sanctions on China - ASIA IBS\" \/>\n<meta property=\"og:description\" content=\"The Office of the United States Trade Representative is scheduled to issue a notice this week regarding the possible termination of Section 301 tariffs on Chinese products worth 370 billion dollars. 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