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The headline rate is only the start: product classification, legal authority, exclusions and effective dates determine the real exposure.
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Policy, industrial competition and bilateral commerce.
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Why U.S.–China Trade Data Needs Context
A bilateral deficit cannot show ownership, value added, rerouting or the strategic importance of individual inputs.
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Programs differ by jurisdiction, target, transaction and license. A name on a list is not a substitute for reading the rule.
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