US Customs and Border Protection or US Trade Representative announcements on tariff implementation

Moolenaar Introduces Bill to Revoke US-China Trade Relations, Proposing 35% Tariffs and New Trade War

Nov 14, 2024, 12:10 PM

Representative John Moolenaar (R-Mich.) has introduced a new bill aimed at revoking normal trade relations with China. This legislative proposal, which comes from the chair of the House select committee on China, is expected to trigger significant tariffs and could potentially initiate a new trade war between the United States and China. The bill outlines a minimum tariff of 35%, reflecting a broader shift in U.S. trade policy amidst ongoing tensions between the two nations. As the U.S. navigates this trade and technology conflict, the impact on its technological and financial dominance is anticipated to be substantial, with markets becoming increasingly fragmented.