Administration Continues Some Tariff Exclusions with China

The U.S.-China Business Council applauded the Biden administration for renewing tariff exclusions on 352 categories of Chinese imports. 

However, the group is disappointed that the administration didn’t approve the exclusions on the full list of 549 categories requested. The council says no reason was given for not approving them all. 

American companies have submitted 53,000 requests for tariff exclusions but fewer than 7,000 were granted. 

“We know that the tariffs are a tax on U.S. businesses and consumers, that they haven’t influenced China’s behavior, which was the justification for making the move, and they likely contribute to domestic inflation,” says Craig Allen, president of the USCBC. 

“They negatively affect U.S. companies of all sizes, especially many of the smaller ones still struggling to survive.” 

The council points out that then-presidential candidate Joe Biden was correct in calling former President Trump’s tariffs “disastrous,” acknowledging the trade war with China hurt U.S. farmers and families.

(Story Courtesy of the NAFB News Service)