Baku. 15 December. REPORT.AZ/ The U.S. Trade Representative’s office on Friday officially changed the scheduled date of a tariff rate increase on $200 billion worth of Chinese goods to 12:01 a.m. EST (0501 GMT) on March 2, 2019, Report informs citing Reuters.
The change was made in a Federal Register filing from a previously scheduled effective date of Jan. 1, 2019 for the increase to 25 percent from 10 percent.
The notice does not affect the 25 percent tariff rate already in place on $50 billion worth of Chinese technology items, including semiconductors, printed circuit boards and other electronic components, machinery and vehicles.
The filing was added to documents associated with USTR’s “Section 301” investigation into China’s intellectual property practices, which has been the basis of U.S. tariffs on Chinese goods that led to tit-for-tat retaliation from Beijing.