Trump administration is now denying any more tariff exemption requests on Chinese imports, something that continues to cripple the American market.
The approval rates have plunged to 3 percent. This has been reported after the third round of levies from 35% in the first two. There is a steep decrease seen here.
In the last few months, almost 4500 companies are known to have requested for exemptions. Many companies are known to have made more than one exemption and as of now, more than 8700 such requests had been made. This shows the level of loss and dependency that American businesses have on Chinese products.
Since September, the Trump administration has kept a strict control over the number of exemptions they have approved. Media reports confirm that it has kept a strict control on the use of Chinese goods and approved merely 3%of all the exclusion requests under the $200 billion tranche of tariffs of Chinese goods.
Somewhere inspired by the Indian example to become domestically more independent, the administration has stated a viable reason for its pressure tactic. For one, it insists the American businesses depend more on their own domestic product than that of Chinese.See more News of America Today