Los Angeles, United States, September 18, 2018/QY Research, Inc.

 

Announcement of the Customs Tariff Commission of the State Council on the application of tariffs on imports of approximately US$60 billion worth of goods originating in the United States\

According to the “Notice of the Customs Tariff Commission of the State Council on Adding Tariffs to Certain Imported Goods Originating in the United States (Second Batch)” (Announcement of the Taxation Committee [2018] No. 6), the relevant implementation matters are hereby announced as follows:

1. For the goods of the Taxation Commission [2018] No. 6 attached to the list of tariffed goods of the United States and Canada, the customs duty shall be imposed from 12:01 on September 24, 2018, and 2,493 tax items listed in Annex 1 shall be The 1078 tariff items listed in Annex 2 are subject to a 10% tariff, and 5% of the 974 tax items listed in Annex 3 and 662 items of tax items listed in Annex 4 are subject to a 5% tariff.

2. Other matters shall be implemented in accordance with the Notice of the Taxation Committee [2018] No. 6.

The State Council Customs Tariff Commission issued an announcement to decide to impose tariffs on US imports of approximately US$60 billion worth of imported goods.

On July 11, 2018, the US government announced a 10% tariff on goods imported from China of about 200 billion US dollars. On August 2, the tax rate was increased to 25%. On September 18, 2018, the US government announced the implementation of measures to impose tariffs on imports of approximately US$200 billion from China. Since September 24, 2018, the tariff rate has been increased by 10%, from January 1, 2019. The tariff rate has been increased to 25%. The US has been willing to go its own way, leading to escalating trade friction between China and the United States. In order to defend free trade and the multilateral system and defend its legitimate rights and interests, China has to impose tariff measures on the announced list of about 60 billion US dollars of goods.

According to the “People’s Republic of China Foreign Trade Law”, “People’s Republic of China Import and Export Tariff Regulations” and other laws and regulations and the basic principles of international law, the State Council’s Customs Tariff Commission decided to produce 5,207 tax items and about 60 billion US dollars of goods originating in the United States. , 10% or 5% tariff is imposed, starting from 12:01 on September 24, 2018. If the US insists on further increasing the tariff rate, the Chinese side will respond accordingly and the relevant matters will be announced separately.

The Chinese side reiterated that the purpose of implementing the above-mentioned tariff increase measures is to curb the escalation of trade frictions. It is a forced response to US unilateralism and trade protectionism. China hopes that the US side will stop trade frictions. China and the United States will adopt equality, integrity and pragmatism. Dialogue, mutual respect, and jointly safeguard the overall interests of bilateral economic and trade relations of mutual benefit and win-win, jointly safeguard the principle of free trade and the multilateral trading system, and jointly promote the prosperity and development of the world economy.

State Council Tariff Commission

September 18, 2018

 

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