Trump administration may delay new tariffs until summit with Xi — Korea Herald
The administration of U.S. President Donald Trump is likely to delay the announcement of new tariffs over claims of allegedly excessive production capacity among trade partners until Trump’s summit with Chinese President Xi Jinping in Washington. The meeting is scheduled for September 24, Korea Herald reports, citing Bloomberg and informed sources.
The reason for the possible postponement of the announcement is currently unclear. The summit in Washington is expected to take place more than four months after the previous meeting between Trump and Xi in Beijing.
Tariffs on Chinese goods
Bloomberg previously wrote that the U.S. administration planned to publish a trade report on excess production capacity before the summit. According to the agency, the document could have included a recommendation to introduce a 7.5% tariff on Chinese goods.
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In March, the U.S. administration launched a trade investigation into South Korea, China, Japan and 13 other economies. It concerned allegedly unfair trade practices related to structural excess capacity and production and could have resulted in the introduction of tariffs.
Separate investigations
In the same month, the United States opened another investigation into 60 economies, including South Korea, China and Japan. U.S. authorities examined whether their governments had taken sufficient measures to ban imports of goods produced using forced labor.
In July, the Office of the U.S. Trade Representative made a final decision on new tariffs of up to 12.5% for South Korea, Japan and 58 other trading partners over concerns about forced labor. Both investigations were conducted under Section 301 of the U.S. Trade Act of 1974. The administration was advancing the new tariffs to replace emergency tariffs for certain countries that the U.S. Supreme Court struck down in February.
