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Home > News > Valuable News > Counterattack! China imposes import tariffs on some American goods

Counterattack! China imposes import tariffs on some American goods

ECHEMI 2019-05-16

Counterattack-China-imposes-import-tariffs-on -some-American-goods

According to the announcement issued by the State Council Tariff and Tax Commission on May 13, the United States Government announced on May 9, 2019 that the tariff rate on goods imported from China with a list of $200 billion would be raised from 10% to 25% from May 10, 2019. The above measures led to the escalation of Sino-US economic and trade frictions, violated the consensus of the two sides to resolve their trade differences through consultation, harmed the interests of both sides, and did not meet the general expectations of the international community. In order to safeguard the multilateral trading system and safeguard its legitimate rights and interests, China has to impose tariffs on some imports originating in the United States.

In accordance with the laws, regulations and basic principles of international law, such as the Foreign Trade Law of the People's Republic of China, the Import and Export Tariff Regulations of the People's Republic of China, and with the approval of the Central Committee of the Party and the State Council, the Tariff Principles Committee of the State Council has decided to raise the tariff rate on some of the US merchandise in the list of 60 billion US dollars that have been imposed tariffs since 0:00 on 1 June 2019 Do not impose tariffs of 25%, 20% or 10%. Tariffs on items previously subject to a 5% tariff will continue to be imposed. China's adjustment of tariff increases is a response to US unilateralism and trade protectionism. China hopes that the United States will return to the right track of bilateral economic and trade negotiations, and work with China to move in opposite directions, so as to reach a mutually beneficial and win-win agreement on the basis of mutual respect.

In addition, according to the announcement issued by the Tariff and Tax Commission of the State Council on the 13th, and with the approval of the State Council, in accordance with the Customs Law of the People's Republic of China, the Foreign Trade Law of the People's Republic of China, the Import and Export Tariff Regulations of the People's Republic of China and other relevant laws and regulations, the Tariff and Tax Commission of the State Council has issued a public announcement to try Work. According to the announcement, the Tariff and Tax Commission of the State Council accepts the application of relevant stakeholders and, on the basis of examining the application one by one, excludes some eligible commodities from the scope of tariff imposition on the United States and Canada, and formulates and publishes a list of exclusions. For the goods in the exclusion list, within one year from the date of the implementation of the exclusion list, no additional duties imposed by me for the anti-US 301 measures will be levied; if the conditions for tax refund are met, the levied customs duties will be refunded, and the relevant importing enterprises shall apply to the Customs within six months from the date of the publication of the exclusion list.

For goods that have ceased or suspended the imposition of tariffs prior to the publication of the exclusion list, the imposition of tariffs shall not be refunded. The applicant is a stakeholder who applies for the exclusion of commodities, including an enterprise or its trade association (chamber of commerce) engaged in the import, production or use of related commodities in China. The scope of goods that can be excluded is two rounds of counter-measures against the United States, which I have announced and implemented without suspending or suspending tariffs. When applying, the applicant should explain the following three reasons with facts and data: difficulties in finding alternative sources of commodities; serious economic damage caused by the imposition of tariffs on the applicant; significant negative structural effects (including impacts on industry development, technological progress, employment and environmental protection) or serious social consequences caused by the imposition of tariffs on the relevant industries. 

Disclaimer: ECHEMI reserves the right of final explanation and revision for all the information.

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