U.S. delays confirmation of increased tariffs on Chinese steel products

LUOYANG, China - Sept. 11, 2024 - PRLog -- The White House has postponed its decision to impose additional tariffs on steel products from China, originally scheduled for August 1, 2024.
U.S. President Joe Biden called for a sharp increase in some tariffs on steel and aluminum products from China during an April speech to members of the Pittsburgh United Steelworkers, a statement that comes as he competes with his predecessor for votes in the northern industrial state. proposed at the time.
On May 22, the White House announced a new round of the U.S. Section 301 tariff agreement with China, further refining the previously announced categories of products to be subject to additional tariffs into specific product names and customs numbers. Among them, steel, aluminum, and electric vehicles Tariffs on products such as lithium batteries for electric vehicles and other products will take effect on August 1.
Specifically, the 301 tariff rate for steel and aluminum products has been increased from 0-7.5% to 25%, including iron and non-alloy steel ingots, stainless steel and aluminum alloys and related products. <a href="http://www.igoofficefurniture.com/">Steel furniture </a>that is widely used in the office field also includes Among other things, this has led to major purchasers competing to purchase steel products in China before additional tariffs are officially imposed, further increasing the operating pressure on already congested cargo ports.
But the Office of the U.S. Trade Representative said it needed more time to study more than 1,100 public comments from the industry. The agency had previously set a new deadline of August 31, but an announcement on August 31 showed that the agency had further delayed this deadline.