12/06/2018 | Press release | Distributed by Public on 12/06/2018 21:00
Bloomberg has quoted Akin Gump international trade partner Stephen Khoin the article 'Corporate America Goes 0-for-1,500 in Bid to Ease China Tariffs.' The article looks at a decision by the Office of the U.S. Trade Representative (USTR), either not to respond to-or to deny completely-requests by U.S. manufacturers to be excluded from tariffs on $50 billion worth of Chinese goods.
Manufacturers, importers, and their political allies, the article reports, have complained that they have lost billions in revenues amid the uncertainty, with small and mid-sized companies being hurt the most. Some of the affected products include hats, food, leather handbags, cameras, clothing and glassware.
The absence of approvals from USTR, Kho said, has made it difficult to figure out what would pass muster for an exemption. He added that companies 'are wondering whether it's even worth it' to file for one.