China Destroyed US Sanctions Whole Car Industry in Big Trouble

China Destroyed US Sanctions Whole Car Industry in Big Trouble #chinanews #chinaupdate #uschina Although President Donald Trump and President Joe Biden differ on many policy issues, they are similar on economic policy. Notably, President Biden is maintaining a flawed process that allows the Trump administration to impose tariffs on some businesses while maintaining tariffs on billions of dollars of Chinese goods. Welcome everyone, in today’s video; we’re going to look at China Destroyed US Sanctions Whole Car Industry in Big Trouble As part of the ongoing review of Section 301 tariffs, the U.S. Trade Representative must listen to the majority of voices calling for an end to this trade failure. But before we proceed the further video, if you’re new to this channel, remember (go ahead and) to hit the bell icon to subscribe, so you won’t miss the informative videos we will upload in the future China Destroyed US Sanctions Whole Car Industry in Big Trouble The 301 Review Process The tariffs Trump created by implementing Section 301 of the 1974 Trade Act not only failed to achieve their goals, but also harmed American businesses and consumer goods. Last year, the Office of the U.S. Trade Representative released a four-year analysis of the Trump administration’s 301 tariffs, asking businesses that supported the tariffs to evaluate their benefits and ensure they could proceed. With each tariff supported by at least one statement, U.S. Trade Representative Katherine Tai found that the comments were sufficient to justify maintaining the tariff. The decision leads to another review where all stakeholders are invited to comment. The second phase of the Section 301 review process, which begins in October 2022, allows the public to submit “concerns about [the tariff’s] effectiveness in achieving investigative objectives, what else should be done, and the impact of such action on taxes.” The American economy, including consumers.“ The comment period ends in January 2023, with 1,497 applications currently being reviewed by the U.S. Department of Commerce. To understand the impact of Section 301 tariffs on America, we decided to roll up our sleeves and review this article ourselves. We found that 286 of the posts were more important, were written by the same company, person, and had the same content. All thirty of them are empty, all are repeated, there are comments with information about taxes. After removing these comments, we were left with 1,181 comments, which can be classified as follows: Most of the comments were posted by companies, while some comments came from more interested parties, NGOs and academics. Some of the industries facing tariffs include outdoor products, interior decoration and clothing industries. On the other hand, support for tariffs from industries such as tungsten, ceramic tiles and forging. In another article, we share a few voices but still call for protection. Who Pays the Cost of the Tariffs Several studies have examined the cost of Section 301 tariffs on the U.S. economy. For example, economists Mary Amiti, Stephen J. Redding, xi jinping economy china sanctions geopolitics dw news china economy world news us china china microchip industry war in ukraine china sactions china us china biden china updates