As widely reported this week, government officials from China and the United States agreed in a joint statement during talks in Washington “to substantially reduce the United States trade deficit in goods with China.”
Along with this statement came word that the Administration will hold off on imposing the additional “Section 301” tariffs, which had included certain equipment and parts used by the recycling industry.
While the statement notes that they agreed to “meaningful increases in United States agriculture and energy exports” and “expanding trade in manufactured goods and services,” there have otherwise been no details on how this will take place. Commerce Secretary Wilbur Ross will travel to China in the next couple of weeks to negotiate the details.
ISRI remains hopeful that these discussions will result in the removal of certain actions China has taken against U.S. scrap exports, such as the 25% tariff on imports of aluminum scrap and the suspension of CCIC’s U.S. operations. ISRI is in close communication with officials in the Trump Administration and Capitol Hill to advocate for changes to these policies.
Please contact Adina Renee Adler if you have any questions.
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