Washington, D.C. (June 2, 2023): With inflation high and consumer confidence declining, the post-pandemic economic recovery remains sluggish. Dropping China Tariffs would lower consumer prices to help with the recovery, but there has been no movement on the tariffs. Despite repeated requests from Congress, the U.S. Trade Representatives have been slow to review China tariffs and have given no indication if they will re-open an exclusion process. To help ease the inflationary pressure, SFIA joined other business interests in pressing Congress to be more aggressive in ending the Section 301 tariffs on Chinese imports or re-open a transparent exclusions process, at a minimum.
The letter to the Congressional Select Committee on the Chinese Communist Party outlines the tariff’s failure to change Chinese behavior and that the tariff cost is absorbed by U.S. companies and consumers, not Chinese manufacturers. Chinese companies continue to violate international rules on intellectual property rights, forced technology transfers, and innovation, while U.S. companies and consumers absorb the cost of the tariffs. In short, the Section 301 tariffs have made U.S. companies less competitive while delivering no results. The business community believes it is time to work with our allies on an alternative approach to reign in illegal and unethical Chinese trade practices
SFIA will continue to pursue relief from China Tariffs to help its members keep costs down to help the economy bounce back and increase U.S. competitiveness globally.
Click here to view the letter.
For more information or for questions, please contact Bill Sells, SVP, Government & Public Affairs, at [email protected].