The Customs Tariff Commission of the State Council announced that if the United States insists on going its own way and implements its tariff increase measures, China will immediately implement the above tariff increase measures
The Customs Tariff Commission of the State Council issued an announcement deciding to impose additional tariffs on some imported goods (second batch) originating in the United States.On July 11, 2018, the US government announced measures to impose a 10% tariff on approximately US$200 billion of goods imported from China.On August 2, the U.S. Trade Representative stated that it plans to increase the tax rate from 10% to 25%.The U.S. has deviated from the consensus reached by the two sides for many times, unilaterally escalated the trade friction again, seriously violated the rules of the World Trade Organization, damaged the global industrial chain and the free trade system, and substantially damaged the interests of our country and people.Negative impact on world economic development.
In response to the above-mentioned measures by the US, China was forced to take countermeasures.According to 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 laws and regulations and the basic principles of international law, with the approval of the State Council, the Customs Tariff Commission of the State Council decided to impose an additional 25% on 5,207 tax items originating in the United States with an estimated value of 60 billion U.S. dollars., 20%, 10%, 5% tariffs.If the United States insists on going its own way and implements its tariff increase measures, China will immediately implement the above-mentioned tariff increase measures.
The purpose of China's adoption of the above-mentioned tariff increase measures is to safeguard its own legitimate rights and interests and curb the escalation of trade frictions through countermeasures. At the same time, relevant measures also minimize the impact on my country's domestic production and people's living needs.After the above measures are implemented, the relevant departments will evaluate the effects of the measures together with all sectors of society, and strive to minimize the impact of the measures on domestic production and life in our country.
The Chinese side promises that it will continue to unswervingly promote reform and opening up in accordance with the established deployment and pace, firmly support economic globalization, firmly safeguard the principles of free trade and the multilateral trading system, and develop and share prosperity with all countries in the world that pursue progress.
According to the website of the Ministry of Commerce, the spokesperson of the Ministry of Commerce of China made a statement on China’s plan to take countermeasures against some products imported from the United States.On the basis of this, it is proposed to increase the tax rate from 10% to 25%.In this regard, China has decided to impose additional tariffs at four different tax rates on approximately US$60 billion of products imported from the United States in accordance with the law.China's differential tax rate countermeasures are rational and restrained. They were put forward after extensively listening to opinions and carefully assessing the impact. In particular, they fully considered factors such as the welfare of the people, the bearing capacity of enterprises, and the maintenance of the operation of the global industrial chain.The implementation date of the taxation measures will depend on the actions of the US side, and China reserves the right to continue to introduce other countermeasures.China always believes that negotiation on the basis of the principles of mutual respect, equality and mutual benefit is the only effective way to resolve trade differences. Any unilateral threat or blackmail will only intensify the conflict and damage the interests of all parties.
The Chinese side emphasizes again that because the United States has repeatedly escalated the situation in disregard of the interests of businesses and consumers on both sides, China has to take necessary countermeasures to safeguard the dignity of the country and the interests of the people, free trade and the multilateral system, and the common interests of all countries in the world.
