The Office of the U.S. Trade Representative (USTR) on Wednesday in the Federal Register published the formal notice that suspends indefinitely the tariffs that were to go into effect on a host of Chinese goods December 15.
“On December 13, 2019, following months of negotiations, the United States and China reached a historic and enforceable agreement on a Phase One trade deal that requires structural reforms and other changes to China's economic and trade regime, including with respect to certain issues covered in this Section 301 investigation,” USTR said. “In light of progress in the negotiations with China, and at the direction of the President, the U.S. Trade Representative has determined that the action announced on August 20, as modified by the August 30 notice, is no longer appropriate. Specifically, and in accordance with the President's direction, the U.S. Trade Representative has determined to suspend indefinitely the imposition of additional duties of 15% on products of China covered by Annex C of the August 20 notice, which otherwise would have been effective on December 15, 2019.”
Further, USTR said they expect to issue another notice in the near future “reducing the rate of additional duty” on good from China that were covered under Annex A of the notice published August 20 “in light of progress in the negotiations.”
USTR also said that if further modifications are needed, they will take into account comments and testimony that have previously been provided by stakeholders.
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