The Customs Tariff Commission of the State Council issued an announcement on August 3rd to impose tariffs of 25%, 20%, 10%, and 5% on 5,207 tax items originating in the United States. The Ministry of Commerce also on the 3rd. In the evening, he issued a response saying that the implementation date of the taxation measures will be determined according to the actions of the US, and China reserves the right to continue to introduce other countermeasures.
On July 11, 2018, the US government issued measures to impose tariffs on imports of about 200 billion US dollars of goods imported from China, and solicited public opinions on the measures. On August 2, the US announced that it intends to add the above-mentioned 200 billion US dollars of goods. The tariff rate for the expropriation increased from 10% to 25%.
The State Council Tariff Commission Committee announced that the US measures have deviated from the consensus of the two sides, leading to an escalation of trade friction between China and the United States, seriously violating the relevant rules of the World Trade Organization, and undermining China's national interests and people's interests. 'For the above measures, the Chinese side was forced to take Counter-measures. ' The announcement said that if the US is willing to go its own way and put its tariff-adding measures into practice, China will implement the above-mentioned tariff increase measures.
The announcement stated that China has adopted the above-mentioned tariff-adding measures to defend its legitimate rights and interests and to curb trade friction escalation through counter-measures. At the same time, relevant measures have also minimized the impact on China's domestic production and people's living needs. The relevant departments will evaluate the effectiveness of the measures with the community and strive to minimize the impact of the measures on China's domestic production and life.
'China's differential tax rate counter-measures are rational and restrained. They are put forward after extensively listening to opinions and carefully assessing the impact, especially considering the welfare of the people, the endurance of the enterprise and the maintenance of the global industrial chain. A spokesperson for the Ministry of Commerce said in a speech on the evening of August 3.
According to the tax collection list announced on the day, the goods subject to the 25% tariff on the United States include beef and mutton, coffee, juice and other foods, as well as quicklime, copper ore, cosmetics, printed matter, textiles, toys, furniture, sporting goods, etc. Products, a total of 2,493 tax items; goods subject to 20% tariffs on the United States and Canada cover part of the machinery, textiles, steel and other categories, a total of 1078 tax items; the United States plus 10% and 5% tariffs on goods involving 974 and 662 tax items, Among them, some parts of auto parts, medical equipment and other goods are subject to a 5% tariff.
Bai Ming, deputy director of the International Market Research Department of the Ministry of Commerce, told the reporter of the Economic Information Daily that the US increase of tariffs on Chinese products is an intensified practice. We are not simply responding with tariffs, for specific The list of tariffs and tax rates are carefully considered, fully reflecting the combination of quantity and quality.
Tu Xinquan, president of the China World Trade Organization Research Institute of the University of International Business and Economics, told reporters that the repeated escalation of unilateral acts in the United States is a flagrant violation of the WTO rules and challenges. 'At present, we need to calm down and respond to the necessary countermeasures. At the same time, take into account the impact of counter-measures on domestic industries. 'Tu Xinquan said.