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- US Prepares to Boost Tariffs on Chinese Imports Citing Lack of Progress in Trade Talks
U.S. Prepares to Boost Tariffs on Chinese Imports, Citing “Lack of Progress” in Trade Talks
May 8, 2019, Covington Alert
On May 8, the U.S. Administration confirmed its intent to increase tariffs on $200 billion in Chinese imports from 10 percent to 25 percent, effective Friday, May 10, 2019, and establish a process for requesting exclusions from these tariffs. As justification for these actions, the Administration cites the “lack of progress in discussions with China” and concerns that “China has chosen to retreat from specific commitments agreed to in earlier rounds” of talks.
February 19, 2019, Covington Alert
Late last week, President Trump signed an appropriations bill to keep the government funded. In its Joint Explanatory Statement accompanying this legislation, Congress directed the Trump Administration to establish an exclusion request process for tariffs on $200 billion in Chinese imports by March 17, 2019, in line with the process provided for prior rounds of ...
December 3, 2018, Covington Alert
On December 1, during a working dinner meeting in Buenos Aires following the G20 Summit, U.S. President Donald J. Trump and Chinese President Xi Jinping agreed to temporarily ease trade tensions as both sides continue negotiating over longer-term solutions to U.S. concerns about bilateral economic relations.
March 22, 2018, Covington Alert
Earlier today, the administration announced its findings that China’s theft of U.S. technologies and intellectual property (“IP”) have caused at least $50 billion in harm to the U.S. economy per year.