US contemplates lowering tariffs on China

The United States Government contemplates reducing the duty to products imported from China —ordered by former President Donald Trump (2017-2021)— to reduce inflationary pressures, which have triggered the prices paid by consumers.

In an appearance before a House of Representatives committee, US Treasury Secretary Janet Yellen said that “certain reductions (to duty) might be justified” to help drive prices down.

Trump significantly increased the duty to imports from China during its trade war with that country, and the current Administration of Democrat Joe Biden it has maintained them, considering that some of them are important to guarantee the national security of the United States.

On Monday, Biden already announced the suspension of the duty to solar panels from four Southeast Asian countries: Thailand, Cambodia, Vietnam and Malaysia, this after the US energy sector complained for months of supply chain problems due to an investigation by the Department trade.

Specifically, this Department is investigating complaints from a US manufacturer of solar panels, Auxin Solar, which claims that Chinese companies are evading payment of duty by diverting part of its operations to Thailand, Cambodia, Vietnam and Malaysia.

The exception of duty it will benefit precisely those four nations, which together constitute 80% of imports of solar panels.

And in late May, the US president signed an executive order easing the duty on UK steel, taxed in 2018 by Trump.

In his proclamation, Biden explained that his government has “successfully” concluded talks with London on “satisfactory alternative means” regarding the duty taxes for Trumpwho considered that British steel posed a threat to US national security.

Reliable, trustworthy and easy. Multimedia news agency in Spanish.

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