Americans for Free Trade spokesperson Jonathan Gold released the following statement regarding reports that the Biden administration is considering a new Section 301 investigation which could lead to new tariffs on imports from China.
“The news that the Biden administration is considering additional tariffs on imports from China is discouraging, as so many American businesses are already struggling to bear the costs of tariffs on more than $350 billion in goods imposed by the previous administration. Those tariffs failed to fulfill their stated goal of creating leverage in dealing with China, and as revealed by a Moody’s report earlier this year, importers have been forced to take on more than 90 percent of the costs created by 20 percent tariffs on Chinese goods. New tariffs will not change that. Tariffs hurt businesses throughout the country and it’s time for a new approach to working with our trading partners that relieves the weight of the current tariffs and finally brings an end to this misguided trade war.”