Feature image courtesy of kokodrill via iStcok
The Household & Commercial Products Association (HCPA) released the following statement today, attributed to Steve Caldeira, President & CEO of HCPA, after the Office of the U.S. Trade Representative (USTR) announced its decision to reinstate certain product exclusions from the Section 301 tariffs on Chinese imports.
The USTR reinstated 352 of the 549 eligible exclusions, including chemicals, industrial components, car parts, and consumer goods, which will be effective retroactively from October 12, 2021 through December 31, 2022.
“HCPA has consistently advocated for removing barriers to free trade, which is vital to the success of the American manufacturing industry. Since China is a major U.S. trading partner, it is critically important that we consider how tariffs on certain products could impact not only the economy, but also consumer costs and supply chain challenges.
This decision will help stabilize trade with China and alleviate the tax burden on American businesses, who are still recovering from a global economic crisis, and consumers, who are experiencing price increases on products due to inflation.”