The National Retail Federation (NRF) has urged the US Congress to pass a recently-introduced legislation that requires establishment of a process to exclude some items from the tariffs on $200 billion worth Chinese imports. The Import Tax Relief Act would require provision of an exclusion process for the third tariff list and any future tariffs under Section 301.
“We are encouraged by the progress made between the United States and China, but tariffs are still taking a toll on hardworking Americans across the country,” NRF senior vice president for government relations David French said in a statement.The National Retail Federation has urged the US Congress to pass a recently-introduced legislation that requires establishment of a process to exclude some items from the tariffs on $200 billion worth Chinese imports. The Import Tax Relief Act would require provision of an exclusion process for the third tariff list and any future tariffs under Section 301.#
“Establishing a timely and efficient tariff exclusion process is the least Washington can do for American businesses that have no alternative supplier and for working families that rely on everyday products,” he said.
The first two lists of tariffs on Chinese imports, imposed last summer under Section 301 of the Trade Act of 1974, included exclusion processes, allowing American importers to apply for tariff relief. However, the third list, which took effect last September and targeted $200 billion of Chinese goods, including many consumer products, does not have an exclusion process.
Under the legislation, exclusions would be required to be granted for imports that have no commercial availability outside of China, those for which a tariff would cause an increase in consumer prices for low- and middle-income families, and those that do not directly benefit from China’s non-market policies, including elements of its ‘Made in China 2025’ program. (DS)
ALCHEMPro News Desk – India
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