May 16, 2024
Contact:
Genevieve Strand
Director, Government Relations
gstrand@socma.org
USTR Releases Much-Anticipated 301 Report, Fails to Reinstate Exemptions Process
SOCMA is disappointed that the Office of the U.S. Trade Representative (USTR) will not reinstate an exclusion process for chemicals imported from China that are currently subject to a surtax under the Section 301 investigation of China.
Yesterday, USTR released the Four-Year Review of Actions Taken in Section 301 Investigation of China’s Acts, Policies, And Practices Related to Technology Transfer, Intellectual Property, And Innovation. SOCMA advocated for reinstating a fair and transparent exclusion process as a part of the four-year review of these actions.
“We respect the administration’s need for a full range of options to deal with China’s unfair practices and understand that tariffs are an impactful tool that should remain at the Administration’s disposal. Nevertheless, the Section 301 tariffs have placed burdens on domestic specialty chemical manufacturers that have placed them at a competitive disadvantage in the global market,” stated Robert F. Helminiak, Vice President of Legal and Government Relations. “In many cases, China is the only or predominant source of inputs and raw materials for the specialty chemical industry, and there is a need to alleviate the tariffs on those products.”
For more information on Section 301 Tariffs and SOCMA’s other trade priorities, visit our website dedicated to trade: Strengthening U.S. Competitiveness in the Specialty Chemical Industry – Society of Chemical Manufacturers & Affiliates | Society of Chemical Manufacturers & Affiliates (socma.org)