American and Chinese officials discussed tariffs, export controls and market access issues during the April 2-5 first meetings of the U.S.-China Commercial Issues Working Group, both countries said in readouts after the talks.
China’s Ministry of Commerce criticized the Biden administration’s annual report released this week on foreign trade barriers, saying it “arbitrarily accused China of so-called ‘non-market’ policies and practices and barriers in agricultural products, data policies and other aspects.” A ministry spokesperson told reporters. in response to a question about the report, that “whether a country's trade policy constitutes a barrier should be judged based on whether it violates” World Trade Organization rules, according to an unofficial translation. “The United States should stop making false accusations against other countries, earnestly abide by WTO rules, and jointly safeguard a fair and just international trade order.”
If Donald Trump is elected to a second presidential term, his administration should focus on communicating better with other governments and American companies about upcoming policy decisions, said Elisabeth Braw, a senior fellow with the Atlantic Council’s Transatlantic Security Initiative.
Turkey will appeal a World Trade Organization dispute panel finding against its retaliatory duties on certain U.S. goods, the WTO announced Jan. 31. Because the Appellate Body is nonfunctional as the U.S. prevents vacancies from being filled, the appeal goes "into the void." As a result, Turkey's tariffs may stand without further rebuke from the WTO.
Japan, which suffered economic coercion from China earlier than any other country, is largely on the same page as the U.S. when it comes to supply chain resilience and restrictions on exports, but the two diverge in their attitudes about China's role in the global economy.
Both Asian countries and American businesses had hoped that the Indo-Pacific Economic Framework could be a step on the road to lowering tariffs, trade experts said during a webinar on the future of IPEF, but now they're wondering if there will be any economically significant effect at all from talks about trade facilitation, green transition and supply chain resilience.
China again extended its Section 301 retaliatory tariff exclusion period for 12 U.S. agricultural products, including certain shrimp, whey, fishmeal, alfalfa and hardwood products, USDA’s Foreign Agricultural Service said in a recent report. The exclusions, which were set to expire Dec. 31, will continue through July 31. Beijing originally imposed the tariffs in retaliation for Section 301 tariffs announced by the Trump administration on certain Chinese goods.