Section 301 Tariffs Turn 4
The first $34 billion of Section 301 tariffs on products coming from China turn 4 later this year. Before these tariffs can completely enter the “ferocious fours” they are required to undergo a Congressionally mandated effectiveness review. The tariffs could expire if the review is not completed within 60 days of July 6.
The review will be conducted by the Office of the U.S. Trade Representative (USTR) as set forth in the Trade Act of 1974. Under President Biden, USTR has allowed the Trump-era tariffs to remain in place, despite China’s failures to live up to its commitments to the Phase One trade deal.
ALA, as a member of the Americans for Free Trade, sent a letter to USTR Katherine Tai asking for the process to be transparent and open to give ALA and other impacted industries the opportunity to question the success of the tariffs.
Over the last four years, tariffs have cost America nearly $130 billion dollars. When combined with everything else going on, such as higher gas prices, inflation, the pandemic, and supply chain issues, the true impact of the tariffs is even greater.
The remaining Section 301 tariffs will follow a similar path as their four-year anniversaries approach in the months ahead.