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US extends exemption for Chinese products from punitive customs duties
Posted on January 2, 2024 |
The U.S. has extended the exemption from harsh customs duties on Chinese products until the end of May.
Initially set to end on December 31, 2023, these exemptions are now extended.
A public consultation, starting on January 22, will look into the possibility of extending these exemptions even further.
This extension covers 352 exemptions related to protecting intellectual rights and transferring technology, as well as 77 products essential in fighting the COVID-19 virus.
Responding to pressure from businesses and lawmakers, President Joe Biden's administration reinstated customs exemptions for specific Chinese products to ease the burden of customs duties during the US struggle with high inflation.