The US Trade Representative’s (USTR) office recently changed the scheduled date of a tariff rate rise to 25 per cent from 10 per cent on $200 billion worth of Chinese goods to 0501 GMT on March 2, 2019, from March 1 as both nations pursue trade talks. The notice does not affect the 25 per cent tariff rate in place on $50 billion worth of Chinese technology items.
The notice attributed the change to new US-Chinese engagement “with the goal of obtaining the elimination of the acts, policies, and practices covered in the investigation” following a December 1 meeting between President Donald Trump and Chinese President Xi Jinping in Buenos Aires.The US Trade Representative's office recently changed the scheduled date of a tariff rate rise to 25 per cent from 10 per cent on $200 billion worth of Chinese goods to 0501 GMT on March 2, 2019, from March 1 as both nations pursue trade talks. The notice does not affect the 25 per cent tariff rate in place on $50 billion worth of Chinese technology items.#
The USTR statement did not specify any expected outcomes of the negotiation while making reference to goals set forth in a statement issued by the White House to negotiate over a 90-day period structural changes by China on forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and theft, services and agriculture. (DS)
Fibre2Fashion News Desk – India
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