NEW YORK: The United States again extended tariff exemptions for hundreds of Chinese products once hit by punitive duties, US trade officials announced Tuesday.
The exemptions, which had previously been extended until December 31, will now be prolonged through May 31, 2024, the US Trade Representative said in a news release. “The extension will enable the orderly sunsetting of the exclusions,” the USTR said, while noting there were cases where additional time could be granted to “enable shifts in sourcing to the United States or third countries.” The extensions announced Tuesday pertain to 352 Chinese products once hit by punitive duties, plus another 77 Covid-related exclusions.
Tensions between the world’s two biggest economies have soared in recent years as both sides clashed on issues ranging from human rights to export controls.
Following a summit of US and Chinese presidents, Joe Biden and Xi Jinping in November, US Commerce Secretary Gina Raimondo held talks with Chinese counterpart Wang Wentao and pledged more in-person talks in early 2024.