On March 27th, EDT, the U.S. Trade Representative announced the 301 investigation tax proposal for China, and publicly solicited opinions within 30 days. The list of product proposals for taxation will involve me exporting 50 billion U.S. dollars, and the proposed tax rate is 25%.
The spokesperson of the Ministry of Commerce stated that the United States disregards China’s solemn representations and has no basis on facts. Publicizing taxation proposals is typical of unilateralism and trade protectionism. The Chinese side strongly condemns and firmly opposes it.
He pointed out that the list released by the United States disregards the nature of mutual benefit and win-win development of Sino-U.S. economic and trade cooperation over the past 40 years, disregards the voices of the industry in both countries and the interests of consumers, is not conducive to the U.S. national interests, is not conducive to China’s national interests, and is not conducive to Global economic interests.
He said that the U.S. approach has seriously violated the basic principles and spirit of the WTO, and China intends to immediately refer the U.S. side’s relevant practices to the WTO dispute settlement mechanism.
'We will be prepared to apply similar measures to the US products and equivalent measures in accordance with the relevant provisions of the Foreign Trade Law of the People's Republic of China. These measures will be announced in the near future. 'The spokesman of the Ministry of Commerce stated that we are confident that Have the ability to respond to any trade protectionist measures of the United States. (End)
On the afternoon of April 3, US local time, the U.S. Trade Representative’s Office published on its website a list of imported products imported from China based on the so-called 301 investigation and proposed to impose tariffs. The list contains approximately 1300 independent tariff items worth approximately US$50 billion. , involving aerospace, information and communications technology, robotics, and machinery industries. The U.S. Trade Representative's Office proposes to impose an additional 25% tariff on Chinese products on the list. After the proposed list is published, there will be a 60-day public consultation period that expires. The final Sanitation List for China 301 investigation will be published.