WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer has assured lawmakers that companies will be able to request exclusions on tariffs on $200 billion worth of goods under discussion with Beijing if talks do not yield a deal by the March 2 deadline.
Lighthizer told U.S. Senators he will extend a process of requesting exclusions that is currently only available on an earlier round of 25-percent tariffs on $50 billion worth of goods. U.S. companies currently have no recourse to seek exemption on the latest round of 10-percent tariffs rolled out in September.
United - States - Tariffs - Mid-2018 - Trade
The United States has levied the tariffs since mid-2018 as a ****-for-tat trade battle between the two countries escalated.
The Trump administration was scheduled to increase the most recent tariffs to 25 percent but delayed it until March 2 to allow for negotiations between Washington and Beijing to try to resolve their differences.
Talks - Deal - Deadline - Washington - Tariff
If the talks don’t yield a deal by the deadline, Washington is set to proceed with higher tariff rate, which many companies have warned could cause supply disruptions.
“If the duty...
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