Switzerland Proposes Tariff Reduction In Ten Years, 60%, There Will Be No Big Change In The Short Term.

Yu Jianhua, assistant director of the Ministry of Commerce and head of the Chinese Negotiating delegation, explained yesterday at the news briefing of the new office of the State Council that "a href=" http://sjfzxm.com/news/index_f.asp "> Swiss watch < /a > ten years to reduce tariffs 60%, which began to fall from the date of the entry into force of the agreement, and dropped 18% in the first year, down 5% in the first year and 60% in ten years." P "

< /p >

What is the effect of the gradual reduction of tariffs on the price of some watches? < p > tariff is only one of the factors and is not a key factor in the market price. The key to price depends on market supply and demand.

Besides tariff, import link tax, value-added tax and consumption tax are not related to the scope of the FTA. Tax reduction is only part of the tariff.

< /p >

"P >" so you asked me how much cheaper the Swiss watches would be in the market in five or ten years, so we can only look at it later.

The big trend is that the price should be reduced and how much is down.

He said.

< /p >

Prior to that, authorities also revealed to reporters that the agreement excludes some high-grade watches, which only made tax reduction arrangements for some Swiss made watches, and there was a pitional period of 10 years. P

Therefore, domestic Swiss watch prices will not change much in the short term.

< /p >

< p > 24 this month, "a href=" http://sjfzxm.com/news/index_q.asp "> commerce ministry" /a "minister Gao Hucheng and Swiss Minister of economic affairs Oman jointly signed the memorandum of understanding on ending negotiations on China Switzerland free trade agreement.

Yesterday's briefing will reveal that the two sides are implementing the procedures for the implementation of the agreement and are also discussing the possibility of signing the agreement in July or so.

< /p >

< p > this is a high level FTA, irrespective of the extent of openness in the market access negotiations and the scope of the rules.

The Swiss side agreed to impose zero tariffs on 99.7% of China's exports. China agreed to impose zero tariffs on 84% of Swiss exports, plus a partial reduction of taxes, to 96%. This level of openness is high in trade agreements.

In addition to the opening of tariffs, non tariffs and trade in services, the agreement also includes rules on environment, competition policy, intellectual property rights, trade facilitation, pparency, information exchange in government procurement, industrial cooperation, and economic and technological cooperation.

< /p >

< p > Yu Jianhua said that the agreement is a mutually beneficial and win-win agreement. Switzerland has agreed to impose zero tariffs on China's exports to 99.7% of its trade volume, and there is no pition period. It agreed to implement the agreement on the date of its entry into force. In addition, 0.29% of the remaining 0.3% were partly tax cut and 0.01% as an exception.

< /p >

< p > China has also made some open commitments based on the competitive level of Switzerland and the situation of China's < a href= "http://sjfzxm.com/news/index_s.asp" > market < /a > and the affordability of the industry.

On the whole, 84% of the import volume of products is zero tariff to Switzerland, of which 67% agree to implement zero tariff on the date of the entry into force of the agreement. The other 17% agree that in 5~10, the maximum 15 years will be agreed to zero tariff.

In addition, 12.3% agreed to cancel tariffs of 60% in 10 years, such as watches. China agreed to cancel 60% according to the 10 years, watches according to their technology, precious metals content and value, the current tariff is basically in 15%~20%, China is in accordance with 10 years 60% to reduce tariffs.

< /p >

< p > for the pitional arrangement, Yu Jianhua said that this is the result of the strong demand of domestic industry.

For some Swiss industries with relatively strong competitiveness, there are exceptions to the industries that have great pressure on China's domestic industrial competitiveness, including partial tax reduction and pitional arrangements.

< /p >

"P >" for us, Swiss sophisticated technology, high-end products of the industrial chain, proper tariff reduction and proper increase in imports are good for China.

It is not only beneficial to consumers, but also beneficial to China's industrial pformation and upgrading.

During the cold war, many sophisticated products in Switzerland, such as precision machine tools, were also restricted by the Paris Co ordinating Committee and not exported to China.

Now they are not restricted, our industry is in need, and some imports will be added to these products. "

Yu Jianhua said.

< /p >