WASHINGTON — Any lingering hopes from the auto sector that Trump-era tariffs on Chinese imports would be quickly removed under President Joe Biden were further diminished this month as the administration begins to readjust U.S. trade policies toward China.
During an Oct. 4 speech, U.S. Trade Representative Katherine Tai outlined the Biden administration's next steps in the U.S.-China trade relationship, which includes keeping in place — for now — the Section 301 tariffs levied by the Trump administration on more than $350 billion worth of Chinese goods.
The prolonged tariff reality means parts makers are once again evaluating their supply chains and strategizing ways to mitigate any impact. But a sliver of hope remains as the administration considers reinstating a targeted tariff exclusion process for imports from China, and companies see a potential opening for negotiations, trade experts say.