Chinese pharmaceuticals will not be subject to tariffs, US Trade Representative says

pharmafile | May 14, 2019 | News story | Manufacturing and Production China, US, USTR, pharma, tariffs, trade 

The Office of the United States Trade Representative (USTR) has said pharmaceuticals will not be subject to potential US tariffs on Chinese imports.

A list of products subject to possible US tariffs will include laptops and mobile phones imported from China but will not include pharmaceuticals or rare earth materials, the USTR office said.

In total 3,805 product categories could be subject to tariffs of up to 25%. The US tariffs could affect around $300 billion worth of Chinese imports. A public hearing will be held on the matter on June 17.

Chinese made pharmaceuticals, pharmaceutical ingredients and select medical products will however be excluded from the list.

The news comes after China announced its decision to impose higher tariffs on thousands of US goods worth around $60 billion. The Chinese tariffs will come into effect on June 1.

“The latest tariff escalation is far too great a gamble for the U.S. economy,” National Retail Federation President Matthew Shay said in a statement.

“Slapping tariffs on everything U.S. companies import from China – goods that support U.S. manufacturing and provide consumers with affordable products – will jeopardise American jobs and increase costs for consumers.”

Louis Goss

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