US Should Lift Tariffs on China, Commerce Ministry Says
Gao Ya
DATE:  Mar 23 2023
/ SOURCE:  Yicai
US Should Lift Tariffs on China, Commerce Ministry Says US Should Lift Tariffs on China, Commerce Ministry Says

(Yicai Global) March 23 -- The United States should remove all additional tariffs on China, a Chinese commerce ministry official said in response to a question from Yicai Global, noting that it is US businesses that are really paying the price. 

The US International Trade Commission said in a report this month that almost all tariffs imposed on China under section 301 of the Trade Act of 1974 are paid by US importers, commerce ministry spokesperson Shu Jueting said today.

Section 301 tariffs imposed by the Trump administration caused the prices of imported Chinese goods such as computers, semiconductors, furniture, audio and video devices to rise by 25 percent in 2021, the USITC report said.

The report supports the view generally held by trade experts that the tariffs are mainly hurting the US, Shu noted.

Section 301 tariffs are a typical practice of unilateralism and trade protectionism, seriously disrupting China-US bilateral trade, damaging the stability of global industrial and supply chains, and hurting US importers and consumers, she stated.

China has never deliberately sought a trade surplus with the United States, Shu said in response to a question about the US trade deficit with China.

“The US trade deficit with China is fundamentally caused by the two countries’ economic structures, the international division of labor, US restrictions on exports to China and some other important factors,” Shu said. 

The US trade deficit with other countries has been widening in recent years, Shu added, “but its trade deficit with China has grown much slower than the overall trade deficit. Chinese companies import a large amount of agricultural produce, automobiles, as well as technology, energy, and petrochemical products, benefitting both countries.”

Editor: Tom Litting

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Keywords:   China,Ministry of Commerce,USA,Tax,Trade