Trump-Xi summit may delay new 7.5% Section 301 tariffs on 16 U.S. trading partners
President Donald Trump’s summit with Chinese President Xi Jinping on Thursday may postpone a planned tranche of Section 301 tariffs that would affect 16 U.S. trading partners, including China. The administration had aimed to publish a report recommending a 7.5% duty on Chinese goods before the meeting, but now the release is uncertain.
The investigation, which began in March, targets countries accused of excess capacity, adding to an existing 12.5% duty on Chinese imports tied to forced labor that took effect on July 24.
“China engages in normal economic and trade cooperation with other countries on the basis of equality and mutual benefit. Such cooperation does not target any third party and shall be free from disruption or coercion from any third party,” China Foreign Ministry spokesman Guo Jiakun said during his daily briefing,” Guo Jiakun, spokesman for China’s Foreign Ministry said.
The Section 301 investigation was launched in March to address alleged excess capacity in 16 economies, including China and the European Union.
What we know
A new tranche of tariffs on 16 United States trading partners including China may be delayed by President Donald Trump’s planned summit with Chinese President Xi Jinping next week, according to a report from Bloomberg.
The outlet wrote that the report contained a recommendation that China be hit with tariffs of 7.5 percent due to its perpetuation of excess capacity.
Those tariffs took effect on July 24.
And as of this week, certain Chinese exports now also face the threat of 100 percent tariffs due to the passage of legislation aimed at curbing Russia’s access to funding for its war on Ukraine.
Bilateral trade between China and Russia ballooned to over $240 billion in 2024.