Today, the office of the US Trade Representative (USTR) released the results of its Sec. 301tariff statutory review, detailing ongoing practices by China, including cyber-attacks and technology transfer and IP theft, that harm US and global economies. The report (linked below) is worth a read in terms of understanding the scope of technology transfer undertaken (and ongoing) by the Chinese government. Additionally, the long-awaited report details recommended tariff adjustments to take effect 2024-26 on various sectors including EVs, EV batteries, critical minerals, semiconductors, steel and aluminum and medical supplies, to name a few. The report also contains information on a recommended exclusion process for certain machinery used in domestic manufacturing. Stay tuned for a Federal Register notice for the opportunity to comment on the recommendations. For more information, reach out and I will connect you with a member of our Michael Best Trade Team.
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