The Observer reported that on December 26, the Office of the Representative of the United States ** announced that it would extend the Section 301 tariff exemption period for 352 Chinese imports that have been restored to tariff exemptions, as well as Chinese imports related to the new crown epidemic prevention, for an extension of 5 months. The rationale is for further consideration under the statutory four-year review.
These U.S. tariffs on China date back to the Trump administration. In 2018, Trump invoked Section 301 of the 1974 Act to impose tariffs on Chinese imports, which involved thousands of different goods with a combined value of more than $370 billion.
Trump's tariff hike policy has seriously affected Sino-US relations, and is one of the fundamental reasons why Sino-US relations have been deteriorating in recent years. For a long time, China and the United States have cooperated in many fields, which has not only contributed to the healthy development of China's economy, but also benefited the economic development of the United States.
However, as the competition between China and the United States began to become more and more intense, various cooperation projects were shelved, and the development of China and the United States has reached varying degrees. After all, according to internal statistics in the United States, the tariffs not only pushed up the inflation rate in the United States, but also mainly paid for by the American people.
However, it is a pity that after Biden took office, he did not retract the wrong decision made by Trump, and still retained the vast majority of the Section 301 tariff provisions, and these irrational tariff increase provisions continue to have a negative impact on Sino-US relations.
In response to the tariffs imposed on China, U.S. Commerce Secretary Raimondo and Yellen have been saying that in the process of competing with China, the United States has not gained the upper hand, but the domestic economy has suffered a lot of impact and backlash, so the two hope to relax tariffs, and it is necessary to compete with China, but it must ensure that competition is within a rational range.
However, Dai Qi, the representative of the United States, insisted that he could not give up on this matter, hoping to use this as a bargaining chip to demand that China make a compromise on issues involving some of the interests of the United States. But apparently this idea is a pipe dream.
At the same time that the United States is exempt from additional tariffs on Chinese imports, China has also recently issued a notice directly announcing that it will continue to waive tariffs on some products from the United States, and the exemption period will be extended until July 31, 2024.
Compared with the small actions of the United States to impose sanctions on the one hand and so-called exemptions on the other, China's response is obviously more straightforward, and it is also part of the reciprocal countermeasures. What needs to be clear is that China has always opposed the conduct of a war and the erection of tariff barriers by other countries. In 2018, Trump lacked rational thinking and made extremely wrong decisions, which led to a "** war" between China and the United States.
A few days ago, China's spokesman Mao Ning mentioned the Sino-US war, emphasizing that there is no winner in the war and the Cold War, and the United States has gone further and further on the wrong path, damaging Sino-US relations and affecting the normal operation of the global market.
More importantly, China and the United States are both superpowers, with their combined economies accounting for 42% of the global share, and any friction and collision between the two sides will seriously affect the operation of the world economy. Therefore, the first-class war launched by the United States not only affected the Chinese and American economies, but also affected the global market and undermined the situation of stable economic development of various countries.
In 2022, the term "community with a shared future for mankind" was officially written into three resolutions of the First Committee of the United Nations General Assembly.