Taiwan to seek exemption from U.S. steel tariffs

Taiwan to seek exemption from U.S. steel tariffs
Taiwan to seek exemption from U.S. steel tariffs
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20 March, 2018

US companies from Walmart Inc. to Amazon.com Inc. are warning President Donald Trump that any sweeping trade action against China could raise consumer prices, increase costs for businesses and hurt stock prices.

Retailers across the US have sent President Trump a letter urging him not to impose massive tariffs on goods imported from China, which could target more than $60B in duties on products ranging from electronics to apparel, footwear and toys.

"We urge the administration not to impose tariffs and to work with the business community to find an effective, but measured, solution to China's protectionist trade policies and practices that protects American jobs and competitiveness", the groups wrote.

A Taiwanese delegation led by John Deng (鄧振中), Taiwan's top trade negotiator, departed Sunday for the United States with the aim of seeking an exemption from the Donald Trump administration's new tariffs on steel and aluminum imports.

The Trump administration is said to be preparing tariffs against Chinese information technology, telecommunications and consumer products in an attempt to force changes in Beijing's intellectual property and investment practices.

Trade associations publicly pushing back include the US Chamber of Commerce, the National Retail Federation and the Information Technology Industry Council.

Taiwan to seek exemption from U.S. steel tariffs
Taiwan to seek exemption from U.S. steel tariffs

United States officials should "work with like-minded partners to address common concerns with China's trade and investment policies", the letter reads.

The EU and other foreign trading partners are seeking exemptions to the 25 percent tariffs on imported steel and 10 percent on aluminum that President Donald Trump announced this month.

Entities looking to obtain exclusions from the newly passed steel and aluminum tariffs received some clarity on how to do so recently when the Department of Commerce posted the procedures for tariff exclusion.

Slapping tariffs on imports of information and communications technology products from China would reduce USA investment in innovation and lower productivity growth, according to a report by the Information Technology and Innovation Foundation.

Deng said a day earlier that the delegation's visit is to convey domestic steel and aluminum industry concern over the new tariffs, highlight Taiwan's role as an important security partner of the USA and explain to the US that Taiwan's steel and aluminum makers do not pose a threat to their US counterparts.

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