The Tax Commissions response to the adjustment of tariffs on US goods: easing economic and trade frictions

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 The Tax Commissions response to the adjustment of tariffs on US goods: easing economic and trade frictions


Q: could you tell me more about the adjustment?

A: on August 23, 2019, I implemented the third round of tariff counter system to the United States, and issued the announcement of the tariff Committee of the State Council on imposing duties on some imported goods (the third batch) originating in the United States (announcement [2019] No. 4 of the Tax Committee) and the announcement of the tariff Committee of the State Council on resuming the imposition of duties on automobiles and parts originating in the United States (announcement of the Tax Committee) Announcement [2019] No. 5), the United States will impose 10% and 5% tariffs on about $75 billion of goods in two batches, and the United States will resume imposing 25% and 5% tariffs on the vehicles and parts of the United States that have suspended the imposition of tariffs. Among them, the additional tariff measures for the $75 billion list I goods have been implemented since September 1, 2019; the additional tariff measures for the $75 billion list II goods, as well as the measures for the restoration of the additional tariff on American automobiles and parts, were originally scheduled to be implemented from December 15, 2019.

On December 15, 2019, the Tax Commission announced that 10% and 5% of the tariff will not be imposed on the $75 billion list II goods originally scheduled to be subject to additional tariff on that day, and the additional tariff will continue to be suspended on American automobiles and parts.

This time, the Tax Commission further adjusted the tariff countermeasures. From 13:01 on February 14, 2020, for the goods in the list I of US $75 billion that have been subject to 10% tariff, the tariff rate will be reduced from 10% to 5%; for the goods that have been subject to 5% tariff, the tariff rate will be reduced from 5% to 2.5%.

(function() {(window. Slotbydup = window. Slotbydup| []). Push ({ID: u5811557, container: ssp_, async: true});}) ()); question: what are the considerations for this adjustment? Do you have any plans for further adjustment? A: on January 16, 2020, the U.S. side announced that since February 14, 2020, 120 billion U.S. dollars of goods have been subject to 15% tariff since September 1, 2019. The tariff increase has been adjusted from 15% to 7.5%, and the proportion has been reduced by 1 / 2. In order to ease economic and trade frictions and expand economic and trade cooperation, we have adjusted relevant measures at the same time. The next adjustment depends on the development and change of China US economic and trade situation. We hope to work with the US side towards the final elimination of all tariffs. Q: is the exclusion also adjusted? A: we will continue to work on the exclusion of goods subject to US tariffs. The previously announced exclusion measures remain in effect. (end) source of this article: Xinhua news agency, editor in charge: Zhang Xinxin, nab7458

Q: what are the relevant considerations of this adjustment? Do you have any plans for further adjustment?

A: on January 16, 2020, the U.S. side announced that since February 14, 2020, 120 billion U.S. dollars of goods have been subject to 15% tariff since September 1, 2019. The tariff increase has been adjusted from 15% to 7.5%, and the proportion has been reduced by 1 / 2. In order to ease economic and trade frictions and expand economic and trade cooperation, we have adjusted relevant measures at the same time.

The next adjustment depends on the development and change of China US economic and trade situation. We hope to work with the US side towards the final elimination of all tariffs.

Q: is the exclusion also adjusted?

A: we will continue to work on the exclusion of goods subject to US tariffs. The previously announced exclusion measures remain in effect. (end)