The US Trade Representative’s (USTR) office recently changed the scheduled date of a tariff rate rise to 25 per cent from 10 per cent on $200 billion worth of Chinese goods to 0501 GMT on March 2, 2019, from March 1 as both nations pursue trade talks. The notice does not affect the 25 per cent tariff rate in place on $50 billion worth of Chinese technology items.
The notice attributed the change to new US-Chinese engagement “with the goal of obtaining the elimination of the acts, policies, and practices covered in the investigation” following a December 1 meeting between President Donald Trump and Chinese President Xi Jinping in Buenos Aires.
The USTR statement did not specify any expected outcomes of the negotiation while making reference to goals set forth in a statement issued by the White House to negotiate over a 90-day period structural changes by China on forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and theft, services and agriculture.
