US Lawmakers Call For Stricter Trade Measures To Combat China's Overcapacity And Dumping Practices
US lawmakers are increasingly advocating for stricter trade measures to address China's overcapacity and dumping practices, reflecting ongoing tensions in the US-China trade relationship.
New Bills Introduced: Recently, the US Senate introduced two significant bills—the Neither Permanent Nor Normal Trade Relations Act (PNTR Act) and the Axing Non-Market Tariff Evasion Act (ANTE Act). These bills aim to phase out China's favourable trade status and impose tougher measures on non-market economies like China and Russia, respectively.
During a session dubbed "China Week," the US House of Representatives passed multiple bills targeting Chinese companies. This included the Biosecure Act, which designates certain Chinese biotech firms as foreign adversaries, limiting their eligibility for federal contracts.
The Biden administration has maintained and expanded tariffs initially imposed during the Trump era, with recent modifications increasing tariffs on various Chinese imports, including electric vehicles and solar cells, up to 100% in some cases.
These actions are part of a broader strategy to protect American industries from what lawmakers describe as China's unfair trade practices, including dumping and overproduction in key sectors.
Lawmakers argue that these measures are essential not only for protecting US economic interests but also for countering China's growing influence in global markets. The overarching goal is to ensure that US businesses can compete fairly against Chinese companies that benefit from state subsidies and other forms of support that distort market competition.
The push for stricter trade measures against China underscores a significant shift in US trade policy aimed at countering perceived threats to national security and economic stability. As lawmakers continue to advance legislation targeting China's trade practices, the implications for international trade dynamics could be profound, potentially reshaping supply chains and investment patterns globally.
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