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août 29 2024

US China Trade Monthly - August 2024

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As global economic and geopolitical environments enter a new era, companies need to continuously develop and adjust their coherent global business strategies to secure and further expand business opportunities in all markets while minimizing political and legal risks by ensuring compliance. To assist you with that task, Mayer Brown’s US-China Trade Monthly provides news and insights related to the latest US developments impacting the US-China bilateral trade relationship. 

In this August 2024 issue, we will discuss: (1) the US steel and aluminum industries and United Auto Workers urging USTR to expand Section 301 tariff rates; (2) the White House issuing proclamations on Section 232 requirements for aluminum and steel; and (3) the Department of Homeland Security updates on forced labor strategy for China. 

US Steel and Aluminum Industries and the United Auto Workers Urge USTR to Expand Section 301 Tariff Rates on Certain Steel and Aluminum Articles from China

Earlier this summer, the US steel and aluminum industries urged the Office of the US Trade Representative (“USTR”) to use Section 301 tariffs to target alleged transshipments of Chinese exports, while labor groups urged the USTR to include certain farm equipment in the proposed increase of Section 301 tariffs.
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White House Issues Two Proclamations on Section 232 Requirements for Aluminum and Steel

On July 10, 2024, President Biden issued two proclamations on steel and aluminum, which impose new requirements regarding the application of special tariffs under Section 232 of the Trade Expansion Act of 1962, as amended (“Section 232”) to imports of steel and aluminum into the United States based on the countries from which the steel was “melted and poured” and the aluminum was “smelted or cast.”
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Department of Homeland Security Updates Forced Labor Strategy for the People’s Republic of China

On July 9, 2024, the Department of Homeland Security (“DHS”) issued its 2024 Updates to the Strategy to Prevent the Importation of Goods Mined, Produced, or Manufactured with Forced Labor in the People’s Republic of China (“PRC”) Report to Congress.
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