In recent weeks, the Office of the US Trade Representative (USTR) has made a series of announcements related to the package of new Section 301 tariffs targeting $18 billion of Chinese imports. These announcements, taken together with the results of USTR’s review of the original Section 301 actions, suggest tariffs will be an enduring feature of the US-China trade landscape for years to come.
China Market Intelligence
Top Stories
June 7th, 2024
June 7th, 2024
In recent years, the United States and China have expanded their respective trade controls and sanctions systems to cover a broadening segment of bilateral commerce. The rapid pace of expansion, complexity of rules systems, and lack of transparency on both sides have raised compliance costs, injected significant uncertainty into business planning, and disrupted business relationships between both countries.
June 7th, 2024
With carbon capture, utilization, and storage (CCUS) and methane emerging as the two main areas of consensus on climate cooperation between the United States and China, both areas present opportunities for companies operating in these fields.
May 22nd, 2024
US-China bilateral trade in goods decreased by 2.9 percent year-on-year in Q1, despite US-worldwide trade increasing by 0.5 percent, the first such increase in US-worldwide trade since Q1 of last year. Bilateral trade has underperformed US-worldwide trade for the last three years due to shifts in trading patterns driven by economic and geopolitical factors.
May 22nd, 2024
On May 17, the People’s Bank of China (PBOC) introduced several new incentives for people to buy homes, including scrapping minimum interest rates on mortgages for new and pre-owned homes, and reducing the minimum down payment ratio for first-home buyers from 20 percent to 15 percent and for second homes from 30 percent to 25 percent. These are the lowest ratios since mortgages were introduced in 1992.
China’s 2024 Legislative Plans Set Priorities for the Economy, Cyberspace, the Environment, and More
May 22nd, 2024
China’s National People’s Congress (NPC) and State Council have both released their legislative plans for the rest of 2024, reflecting China’s regulatory priorities in a wide array of economic and civil society matters.
May 15th, 2024
USTR plans to levy tariffs against a range of “strategic” goods from China.
The forthcoming tariffs and USTR findings of state-sponsored forced technology transfer follow nearly six months of more constructive dialogue between the two governments.
An economic slowdown and weak business sentiment in China will factor into Beijing’s response.
May 9th, 2024
China's economy surpassed expectations in the first quarter, growing at a rate of 5.3 percent year-on-year, comfortably exceeding the 4.6 percent increase forecasted by a Reuters poll of economists.
May 9th, 2024
The State Council recently launched its “trade-in old for new” (以旧换新) campaign intended to upgrade China’s manufacturing capability and incentivize consumers to make big-ticket purchases.
While the central government-level message is positive, it remains to be seen how effective this campaign will be at the local level, where these programs will be implemented.
May 9th, 2024
A bill to alter the de minimis provision was recently approved by the House committee with jurisdiction over trade.
The bill would subject many products from China to tariffs they were previously able to bypass.
Since it lacks Democratic support, the chances of it becoming law in Congress this year are slim.
