China will remain subject to the US tariffs on steel and aluminum imports, despite the White House announcing this week that the US would hold off on implementing a series of other tariffs against the country, US Treasury Secretary Steven Mnuchin said Tuesday.<\/p>\n
“As it relates to China, the steel and aluminum tariffs will remain in force. Those were not part of our discussions,” Mnuchin told the Senate Appropriations Financial Services Subcommittee Tuesday.<\/p>\n
Mnuchin on Sunday said the Trump administration was holding off on plans to impose Section 301 tariffs of $150 billion on Chinese goods as the two countries had agreed on a framework for reducing the US trade deficit and to address intellectual property and technology theft issues.<\/p>\n
The tariffs placed on hold are separate from the 25% tariff on steel imports and 10% tariff on aluminum imports the US began implementing March 23 as a result of Section 232 investigations into the effect of these imports on national security.<\/p>\n
Details of a potential trade agreement between the US and China have yet to be worked out. China on Tuesday announced it will reduce tariffs on automotive imports from 25% to 15% for passenger vehicles.<\/p>\n
— Justine Coyne<\/p>\n","protected":false},"excerpt":{"rendered":"
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