On September 13, 2024 local time, the Office of the United States Trade Representative (USTR) released the final modifications of its four-year review of the tariffs imposed on Chinese-origin goods pursuant to Section 301 of the Trade Act of 1974. The USTR has decided to maintain the existing tariffs and increase rates on some products and has proposed an expansion of the tariff scope. A spokesperson for the China Council for the Promotion of International Trade (CCPIT) recently made remarks regarding the final modifications.

The final modifications announced by the USTR not only do not reduce the tariff rates on imports of Chinese-origin electric vehicles, lithium-ion batteries, solar cells, critical minerals, semiconductors, and products such as steel and aluminum, ship-to-shore cranes, and personal protective equipment, but raise the tariff rates on products such as face masks, medical gloves, and needles and syringes. In the meantime, the final modifications propose to include tungsten, wafers and polysilicon products in the scope of tariff-imposed products.

Chinese businesses, notably those in the sectors of electric vehicles, lithium-ion batteries, and solar cells, have engaged in in-depth collaboration with business communities of various countries, including the relevant enterprises in the U.S., on the basis of mutual respect, equality and mutual benefit. Together, they have continued to carry out technological innovation, actively promoted international cooperation in the industrial and supply chains, and contributed to global green and low-carbon development. The CCPIT recently organized a successful visit of a Chinese business delegation to the U.S., where members had extensive and in-depth exchanges with the U.S. business community. Both sides unanimously called for adhering to market principles, respecting the spirit of contract, opposing trade protectionism, safeguarding the interests of enterprises in both countries and keeping the global industrial and supply chains secure, stable and smooth.

However, the U.S. side has persisted in its erroneous practice, disregarding the views of the Chinese and U.S. business communities against the imposition of tariffs and refusing to fulfill its World Trade Organization (WTO) commitments of tariff reduction. Such unilateral measures, which are in clear violation of WTO rules, will seriously undermine the confidence of the relevant industries in China and the U.S. in long-term and stable cooperation and have adverse effects on global cooperation in industrial and supply chains. The Chinese business community is firmly opposed to this.

The CCPIT, in partnership with the China Chamber of International Commerce (CCOIC), has consistently advocated the collaboration among business communities of all countries. Again we call on the U.S. side to respect the law of market economy and the principle of fair competition, immediately stop its wrong actions, and resolutely uphold the multilateral trading system with the WTO at its core. Business communities of China and the U.S. should bolster communication and cooperation, resolve disputes and conflicts through consultation and dialogue, strive for mutually beneficial outcomes, and boost world economic growth.