The new US administration maintains tariffs on Chinese goods


The new US administration maintains tariffs on Chinese goods

US Treasury Secretary Janet Yellen said the US would keep the same tariffs on Chinese goods set by the administration of former President Donald Trump.

US Treasury Secretary Janet Yellen said the US will now keep the tariffs on Chinese goods set by the former administration of President Donald Trump, but will evaluate how to do it after careful consideration.

In response to CNBC, Ms. Yellen stated that the US has not changed the tariffs currently imposed by the Trump administration and will consider implementing it appropriately, while emphasizing that Washington expects Beijing to comply. commercial commitments.

Last month, the White House said it would reassess all the national security safeguards that former President Donald Trump took, including the “Phase 1” trade deal with China.

The deal eased tensions between the world’s two largest economies after a trade war that left 245,000 Americans out of jobs (according to American experts’ estimates).

Under an agreement signed in January 2020, China committed to spend $ 200 billion to buy additional goods and services from the US within 2 years.

Raising concerns about China’s moves related to trade, compulsory technology transfers and subsidies to high-tech industries, Ms. Yellen stressed that the US is in the process of evaluating the approach towards China. .

She also noted areas where the two countries need to cooperate, such as coordination to end the COVID-19 pandemic and combat climate change.

Earlier, the administration of US President Joe Biden announced it would consider with allies to impose “more restrictions on new targets” in the export of technology sensitive to China.

According to a senior official in the new administration in the US, Washington does not lift the trade taxes on Chinese goods imposed under President Donald Trump until it conducts a “thorough assessment and consultation. “with allies.

“We will maintain taxes while conducting the review because we do not want to act hastily,” the official said.

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