Biden China Tariff decision, news by Hebei Longsheng Metals and Minerals Co, Ltd
| The U.S. Court of International Trade has consolidated nearly 3,600 appeals against section 301 tariffs on imports from China into a single review. That follows the earlier application of exemptions from the duties, dating from the Trump administration’s trade war with China, which was administered by the U.S. Trade Representative. While the legal machinations will continue, the future of the tariffs also depends on the implementation of the Biden administration’s “extreme competition” strategy regarding China. Panjiva’s analysis shows that U.S. imports of products covered by 25% duties under the section 301 program (lists 1-3) surged 14.4% higher year over year in December. That reflects increasing consumer and medical products demand, with imports still down by 24.3% in December 2020 versus December 2017. In many instances U.S. supply chains have "healed" around the damage caused by tariffs 30 months down the road from their initial implementation. One example is U.S. imports of air purifying pumps used in medical as well as automotive and industrial applications. Shipments from China surged 475.4% year over year in December, including shipments linked to Mitsubishi Heavy and Medify, equivalent to a 66.8% rise versus October. That offset a decline in imports from Mexico of 28.0% over October to December period. By Hebei Longsheng Metals & Minerals Co,. Ltd. |
