USTR To Release More Details On China Tariffs Next Week

MNI London: USTR Katherine Tai, speaking at the White House on new tariffs on USD$18 billion of Chinese imports unveiled by President Biden today, says "it is clear that the previous administration's trade deal with [China] failed to increase American exports or boost manufacturing. In fact China's exports in some critical sectors like EVs and batteries actually increased."

• Tai says she expects to release a public notice next week which conveys, "the specific tariff lines, tariff rates, and timing for the proposed increases, along with the details of the machinery exclusions process."
• Tai adds: "We do not seek to constrain China's economic development but we will insist on fair competition and defend working from the PRC's unfair practices."
• Tai echo comments made by Biden a short time ago staking out a clear distinction between the Biden administration's "strategic" policy on China with Trump's less targeted approach which would also hit non-critical sectors and partners.
• When asked if tariffs could increase prices for US consumers, Tai says: "I think that link between tariffs and prices has been largely debunked. What I would say... [we are focusing] on making supply chains more resilient [so] we can insulate the America. economy from [price spikes like COVID-19 and Ukraine war]."
• Biden said earlier today: "My predecessor promised to increase American exports. He failed. He signed a trade deal with Chinaand they were supposed to buy $200 billion more of American goods, instead China's imports from America barely budged."