America has once again given exemption from duty on some Chinese products. The US has again extended duty exemptions to hundreds of Chinese products hit by punitive tariffs, the US Trade Representative announced Tuesday.
Exemption Extended Till May 31, 2024
The US Trade Representative said the exemption has been extended until May 31, 2024. Earlier, this exemption was till December 31. The US Trade Representative said that this extension will help end the separation in an orderly manner.
Business group America for Free Trade welcomed the decision. He said that this extension will provide economic relief for American businesses.
Trump Administration Had Taken Steps Against China
Former US President Donald Trump had taken a big step regarding trade with China. The Trump administration had imposed a duty of seven and a half per cent to 25 per cent on Chinese products worth about $300 billion under Section 301 of the Trade Act 1974.
