The Office of the United States Trade Representative announced on the 3rd that the two actions of imposing tariffs on Chinese goods exported to the United States four years ago based on the results of the so-called "301 investigation" will end on July 6 and August 23 of this year, respectively. From now on, the Office will start the statutory review procedure for relevant actions.

The Office of the United States Trade Representative issued a statement on the same day, saying that it would inform those American domestic industry representatives who benefited from the imposition of tariffs on China that the relevant tariffs might be cancelled. Industry representatives can apply to the office to maintain the additional tariffs before July 5 and August 22, respectively. The office will review the relevant tariffs based on the application, and these tariffs will be maintained during the review.

Dai Qi, the US trade representative, said at the event on the 2nd that the US government would take policy measures to curb the soaring prices, suggesting that it would be considered to cut the tariffs imposed on Chinese goods imported from the US.

The so-called "301 investigation" originates from Section 301 of the United States Trade Act of 1974. This provision authorizes the US Trade Representative to initiate an investigation into the "unreasonable or unfair trade practices" of other countries, and to recommend the US President to implement unilateral sanctions after the investigation. The investigation was initiated, investigated, adjudicated and executed by the United States itself, which has a strong unilateralism color. According to the so-called "301 survey", the United States has imposed 25% tariffs on goods imported from China in two batches since July and August 2018.

The US tariff increase against China was strongly opposed by the US business community and consumers. Due to the sharp increase of inflationary pressure, there has been a renewed call in the United States for the reduction of tariffs imposed on China recently. Dalip Singh, Deputy Assistant to the President of the United States for National Affairs, said recently that some of the tariffs imposed by the United States on China "lack strategic purposes". The federal government can reduce the tariffs on bicycles, clothing and other Chinese goods exported to the United States to help curb price inflation.

US Treasury Secretary Yellen also said recently that the US government is carefully studying its trade strategy with China, and it is "worth considering" to abolish the tariffs imposed on Chinese goods exported to the US.

A spokesman for the Ministry of Commerce of China said earlier that the unilateral imposition of tariffs by the United States is not conducive to China, the United States and the United States. Under the current situation that inflation continues to rise and the global economic recovery is facing challenges, it is hoped that the United States, proceeding from the fundamental interests of consumers and producers in China and the United States, will eliminate all tariffs imposed on China as soon as possible, and promote bilateral economic and trade relations to return to normal at an early date.

Information source: World Aluminum Network