Modifying Reciprocal Tariff Rates Consistent With the Economic and Trade Arrangement Between the United States and the People's Republic of China
1. Purpose
Executive Order 14358 modifies reciprocal tariff rates as a result of evolving trade agreements between the U.S. and China post a national emergency declaration regarding trade imbalances. It intends to support enhanced economic relations and uphold commitments made in recent agreements.
2. Key Actions And Directives
- Modify Tariff Rates: Adjust reciprocal tariff rates in light of the Kuala Lumpur Joint Arrangement and maintain suspension of heightened tariffs until November 10, 2026.
- Monitor Implementation: The Secretary of Commerce and the Secretary of the Treasury will oversee the implementation of PRC commitments and report findings.
- Delegate Authority: Empower the Secretary of the Treasury, Secretary of Commerce, Secretary of Homeland Security, and U.S. Trade Representative to execute necessary measures for order implementation.
3. Important Points
- Historical Agreement: The Kuala Lumpur Joint Arrangement marks a key turning point in U.S.-China economic relations by addressing crucial issues like export controls and agricultural purchases.
- Suspension of Tariffs: The order continues a suspension on heightened tariffs from China, highlighting a strategic move towards collaboration over conflict.
- Presidential Discretion on Compliance: In case of non-compliance from the PRC, the President retains power to modify the order, ensuring responsiveness to changing trade dynamics.
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