In this week's post, Akshay Ashok writes about the Apple, Pfizer and Intel joining plaint against tariffs on Chinese goods.
Major technological giants have often relied on China’s growing influence on international trade for their business operations due to the monetary benefits they gain. Over the past few years, the growing influence of China on global trade gave way t the Trump administration imposing tariffs on Chinese goods. 3700 plaintiffs have now filed a complaint before the Court of International Trade, including big players such as Apple, Intel, Pfizer, Ford, Tesla and Walgreens. The original plaintiff was HMTX Industries LLC and was filed in September 2020. The dispute concerns the tariffs imposed by the Trump Administration on Chinese goods made under Section 301 of the Trade Act, 1974. It will concern the validity of ‘List 3’ and ‘List 4’ tariffs. The case has now grown since it challenges almost 300 billion dollars’ worth of tariffs on Chinese goods. These technological giants have a major interest in securing lesser tariffs on goods from China. Most trade regulations on Chinese goods comes from the unprecedented rise of China’s trade power and role in international trade, controlling more than 12 percent of all global trade in 2018. The United States Court of International Trade is a federal court in the United States that hears civil cases involving customs and international trade regulations. It is situated in New York City and has extensive jurisdiction over most trade-related concerns, as well as the authority to hear and consider cases anywhere in the United States and overseas. The case is titled ‘In re Section 301 Cases v. United States’. Readings:
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