US to hold China tariffs hearing on June 17

US to hold China tariffs hearing on June 17

WASHINGTON,. The United States on June 17 will hold public hearings on President Donald Trump’s proposal to put tariffs on another US$300 billion (RM1.24 trillion) in Chinese goods, according to a document published yesterday.

The hearing is part of Trump’s escalating trade offensive against Beijing. If the tariffs are imposed, they would make virtually all Chinese imports to the United States subject to steep, punitive duties.

Beijing yesterday fired its latest counter-salvo, raising tariffs on US$60 billion in US exports in retaliation for Trump’s decision to bump up duties on US$200 billion in Chinese exports.

But Trump told reporters yesterday he had not yet decided whether to proceed with the US$300 billion round.

“That is a tremendous amount of money that would come into our country,” Trump said, reiterating his belief that duties are paid by trade adversaries, not US importers and consumers.

“I have not made that decision yet.”

Members of the public, such as diplomats, trade bodies and individuals, also have until the hearing date to submit written comments before officials finalize the list of goods that face duties of up to 25 per cent, according to the US Trade Representative’s office.

US trade with China hit record levels last year, with US$540 billion in imports and US$US$120 billion in exports, according to the US Commerce Department. —AFP