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China Quietly Exempts Key US Goods From Tariffs: Report

Shane Croucher | Newsweek — Wed, 30 Apr 2025 23:46:53 +0000

Chinese officials are quietly drawing up a “whitelist” of critical U.S. goods that importers rely on to exempt them from Beijing’s retaliatory tariffs, Reuters reported, citing unnamed people familiar with the matter.

Why It Matters

The news adds to a growing number of reports from China of businesses discovering that tariffs have been waived on some goods, such as certain semiconductor and integrated circuit products.

It also shows how, underneath its tough rhetoric, Beijing is trying to mitigate the impact of the U.S. trade war on its export-reliant economy, the world’s second-largest, which was already under pressure from a broader slowdown.

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Source: https://www.newsweek.com/china-quietly-exempts-key-us-goods-tariffs-report-2065950

[Disclaimer]

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Trump launches probe laying groundwork for tariffs on critical minerals

BRETT SAMUELS | The Hill — Thu, 17 Apr 2025 23:52:22 +0000

President Trump on Tuesday signed an executive order directing the Commerce Department to open a national security investigation that would lay the groundwork for the administration to impose tariffs on critical minerals, the latest sector to potentially face tariffs as part of Trump’s growing trade war.

Trump signed an order initiating the probe, known as a Section 232 investigation, that will determine the impact on national security of imported processed critical minerals.

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Source: https://thehill.com/homenews/5250893-trump-launches-probe-laying-groundwork-for-tariffs-on-critical-minerals/

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The post Trump launches probe laying groundwork for tariffs on critical minerals first appeared on Garner Ted Armstrong Evangelistic Association.

Trump imposes 10 percent global tariffs; higher rate for ‘worst offenders’

BRETT SAMUELS AND ALEX GANGITANO | The Hill — Wed, 02 Apr 2025 22:21:46 +0000

President Trump on Wednesday announced a baseline 10 percent tariff on imports from all foreign countries, as well as higher tariff rates for dozens of nations that the White House deemed the “worst offenders” when it came to trade barriers.

The 10 percent tariff will go into effect on Friday. About 60 countries facing a higher reciprocal tariff will see those rates go into effect on April 9 at 12:01 a.m. Trump also announced a 25 percent tariff on all foreign-made automobiles that will take effect at 12:01 a.m. April 3.

Among the countries being targeted with reciprocal tariffs are China, Vietnam, Taiwan, Japan, India, South Korea, Thailand, Switzerland, Indonesia, Malaysia, Cambodia and the European Union.

Trump said those reciprocal tariffs will be calculated by combining the rate of tariffs and non-monetary barriers like currency manipulation, then divided in half.

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Source: https://thehill.com/homenews/administration/5228598-trump-10-percent-global-tariffs/

[Disclaimer]

The post Trump imposes 10 percent global tariffs; higher rate for ‘worst offenders’ first appeared on Garner Ted Armstrong Evangelistic Association.

EU presses ahead with Chinese EV tariffs after divided vote

Philip Blenkinsop | Reuters — Fri, 04 Oct 2024 23:34:32 +0000

BRUSSELS, Oct 4 (Reuters) – The European Union will press ahead with hefty tariffs on China-made electric vehicles, the EU executive said on Friday, even after the bloc’s largest economy Germany rejected them, exposing a rift over its biggest trade row with Beijing in a decade.

The proposed duties on EVs built in China of up to 45% would cost carmakers billions of extra dollars to bring cars into the bloc and are set to be imposed from next month for five years.

The Commission, which oversees the bloc’s trade policy, has said they would counter what it sees as unfair Chinese subsidies after a year-long anti-subsidy investigation, but it also said on Friday it would continue talks with Beijing.

A possible compromise could be to set minimum sales prices.

In a pivotal vote on Friday, 10 EU members backed tariffs and five voted against, with 12 abstentions, EU sources said.

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Source: https://www.reuters.com/business/autos-transportation/eu-governments-face-pivotal-vote-chinese-ev-tariffs-2024-10-04/

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The post EU presses ahead with Chinese EV tariffs after divided vote first appeared on Garner Ted Armstrong Evangelistic Association.

US will not accept Chinese imports decimating new industries, Yellen says

David Lawder | Reuters — Mon, 08 Apr 2024 21:49:31 +0000

BEIJING, April 8 (Reuters) – U.S. Treasury Secretary Janet Yellen warned China on Monday that Washington will not accept new industries being decimated by Chinese imports, as she wrapped up four days of meetings to press her case for Beijing to rein in excess industrial capacity.

Yellen told a press conference that U.S. President Joe Biden would not allow a repeat of the “China shock” of the early 2000s, when a flood of Chinese imports destroyed about 2 million American manufacturing jobs.

She did not, however, threaten new tariffs or other trade actions should Beijing continue its massive state support for electric vehicles (EVs), batteries, solar panels and other green energy goods.

Yellen used her second trip to China in nine months to complain that Beijing’s overinvestment has built factory capacity far exceeding domestic demand, while fast-growing exports of these products threaten companies in the U.S. and other countries.

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Source: https://www.reuters.com/world/yellen-meets-with-chinas-central-bank-chief-presses-case-excess-capacity-2024-04-08/

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Walmart shifts to India from China for cheaper imports

Richa Naidu and Siddharth Cavale | Reuters — Wed, 29 Nov 2023 19:35:18 +0000

LONDON/NEW YORK, Nov 29 (Reuters) – Walmart (WMT.N) is importing more goods to the United States from India and reducing its reliance upon China as it looks to cut costs and diversify its supply chain, data seen by Reuters shows.

The world’s largest retailer shipped one quarter of its U.S. imports from India between January and August this year, according to bill of lading figures shared with Reuters by data firm Import Yeti. That compared with just 2% in 2018.

Only 60% of its shipments came from China during the same period, down from 80% in 2018, the same data shows. To be sure, China is still Walmart’s biggest country for importing goods.

The shift illustrates how the rising cost of importing from China and escalating political tensions between Washington and Beijing are encouraging large U.S. companies to import more from countries including India, Thailand and Vietnam.

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Source: https://www.reuters.com/business/retail-consumer/walmart-shifts-india-china-cheaper-imports-2023-11-29/

[Disclaimer]

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