U.S. Trade Representative Dyche, Commerce Secretary Raimondo and EU Executive Committee Vice President Dombrowski said in a joint statement the same day that the two sides will cooperate actively on trade policy in order to “hold countries like China that support trade distorting policies accountable,” Reuters reported on May 17.
On Monday, the Chinese Ministry of Finance published on its website an announcement by the State Council’s Tariff Commission announcing that 79 items, including gold ore and rare earth metal ores, will be extended in the fourth exclusion list of goods subject to tariff hikes by the United States. China will “continue not to raise the tariffs imposed to counter the U.S. 301 measures” from May 19 to December 25 of this year.
The Trump administration reached a “Phase I trade agreement” with China early last year, which involved intellectual property protection and China’s agreement to buy $200 billion of U.S. goods over two years, among other commitments. U.S. Trade Representative David Deitch said earlier this month that she expects to meet with senior Chinese trade officials in the near future to assess the implementation of the U.S.-China “Phase I Trade Agreement” regarding the Chinese side.
The U.S. statement released on Monday by the European Union also said the two sides will discuss the issue of resolving global steel and aluminum overcapacity.
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