Senator Lankford Statement on US-China Trade Negotiations, 25 Percent Tariff
WASHINGTON, DC – Senator James Lankford (R-OK) today issued the following statement after the Administration talks on trade with China have stalled and announced a 25 percent tariff:
“The announcement from the White House that talks with China have fallen apart is not good news for American consumers. The Chinese must return to the table to negotiate in good faith to finally resolve our longstanding trade uncertainty. Tariffs are not an effective long-term strategy for either country and hurt the US economy. The 25 percent tariffs imposed on the $200 billion worth of Chinese imports will continue to harm American workers, American consumers, and American companies in the days ahead. The US must find a path with China that opens up trade, not discourages it.
“In the interim, the Administration needs to immediately put in place an exclusion process for List 3 and an opportunity to renew exclusions under Lists 1 and 2. The President and USTR have stated that they are working on an exclusion process. The day to share that with the general public has arrived. It is not reasonable to give an exclusion process for the first two lists then announce an even larger tariff with no opportunity for due process or reasonable exclusion.”
Earlier this year, Lankford spoke on the Senate floor to discuss trade issues with China. He also introduced the bipartisan, bicameral Import Tax Relief Act to require the Executive Branch to create an exclusion process for List 3 (and any future list) of Chinese imports subject to Section 301 tariff imposition. Lankford is a member of the Senate Finance Committee, which its primary areas of jurisdiction include taxation and other revenue measures; bonded debt of the United States; customs; reciprocal trade agreements; tariffs; general revenue sharing; Medicare, Medicaid, CHIP, TANF, and other Health and Human Services programs financed by a specific tax or trust fund; and social security.