U.S. lifts tariffs

International Business News  –  In 2018, the United States launched the policy of imposing additional tariffs on China, mainly targeting China’s high-end manufacturing industry, involving products such as mechanical equipment, electrical appliances, automobiles and parts, etc, and further expanded to household products, clothing, plastic products, steel products and other products.

Moving forward to 2022, a number of tariff increases will expire, including the first batch of U.S. tariffs on $34 billion of Chinese imports, which will expire on July 6. Another batch of tariffs on $16 billion of Chinese imports will expire on August 23, and another batch of $200 billion of increases will expire on September 24.

According to “speculation” by several media reports, the United States may cancel the tariff policy, and then the tariffs on Chinese goods exported to the United States will be greatly reduced.

In early July, the “Wall Street Journal” reported that the current U.S. President Biden announced this week that he would reduce the tariff rate on some Chinese imports, which directly abolished the tariff policy on clothing and school supplies, and said that it would allow importers apply for duty exemption.