US may extend tariff suspensions on 34 billion USD in Chinese goods

(VOVWORLD) - The US Trade Representative is weighing whether to extend tariff suspensions on 34 billion USD worth of Chinese goods set to expire on December 28 this year, the agency said on Monday. 

The USTR, the lead US trade agency, said it would take comments on the proposed tariff suspension from November 1 to November 30. The USTR said last December  that, at the request of US importers, 34 billion USD in Chinese goods would be exempted from 25% tariffs first set in July of 2018. The USTR will evaluate US importer efforts to source the products in the United States or from third party countries when it decides whether or not to extend tariff suspensions, according to a Federal Register notice. The USTR said last week that China and the US are close to finalizing an initial deal. President Donald Trump has said the agreement will address intellectual property and financial services and include a pledge for China to buy 40 billion USD to 50 billion USD in American agricultural products.