The Sino US Trade War Is Escalating Again. There Are A Few Textile Products In The 50 Billion Dollar Tax List.

Us announces 25% import tariff list

In June 15th, the Trump administration of the United States announced that it would levy an import duty of 25% on the total value of 50 billion products of 1102 products originating in China, based on the results of the unilateral investigation by 301.

Among them, about 34 billion US dollars will be implemented in July 6th, and additional tariff measures for the remaining 16 billion US dollars will be further sought from the public.

Earlier, the US trade representative's list of tax products released in April 3rd to China's 301 survey involved 45 tariff details of textile machinery products.

Most of the textile machinery products have been removed from the final tax list. Only a small number of textile products, such as "machine for extrusion, stretching, deformation or cutting of man-made textile materials" (tax number 8444.00.00, etc.), are still in the ranks of taxation.

The United States government held a hearing on the 301 investigation in May, and the major textile and garment industry organizations in the United States issued a clear stand. All interest groups concerned with textile and clothing are opposed to impose tariffs on China's textile machinery products.

China has introduced tax measures of the same scale.

China's Ministry of commerce immediately responded to the announcement that the United States was once again going back and forth to declare high tariffs on Chinese imports.

The Chinese side said that China and the United States had conducted rounds of consultations on economic and trade issues, trying to resolve differences and achieve a win-win situation.

It is deeply regrettable that the United States has disregarded the consensus already formed by the two sides and provoked a trade war.

"We will immediately introduce the same scale and equal taxation measures, and all economic and trade achievements reached by the two sides will be invalidated."

In June 16th, the Chinese Ministry of Commerce issued a notice of tariffs on some commodities originating in the United States, and decided to impose tariffs on 545 imported commodities, such as soybeans, cotton and other agricultural products, automobiles and aquatic products (involving an amount of about 34 billion US dollars). The duty rate is 25%, and will take effect from July 6th.

At the same time, China intends to impose 25% import tariffs on 114 commodities imported from the United States, including medical products, medical equipment and energy products, and the final measures and effective time will be announced separately.

US considers tax on additional $400 billion commodity

In June 18th, Mr. tran had said in a White House statement that he would consider raising 10% tariffs on Chinese products for an additional $200 billion.

Trump said he had instructed the USTR office to make a list.

If China still refuses to change its trade practices, the United States will formally levy tariffs on the Chinese goods after the completion of the legal process.

In addition, if China is to introduce a reciprocal measure again, it will consider taxing another 200 billion US dollars of Chinese goods.

Trump's response is a response to the previously announced tax return on 50 billion US goods.

China will adopt comprehensive measures to make a strong counterattack.

On June 19th, a spokesman for the Ministry of Commerce issued a statement on the 18 day statement of the whitening Palace: after the US launched the list of 50 billion dollars, it became more aggressive and threatened to make a list of 200 billion dollars.

The extreme pressure and blackmail practices, which deviate from the consensus of the two sides, are also very disappointing to the international community.

If the US side loses its rationality and makes a list, China will have to take comprehensive measures combined with quantity and quality to make strong countermoves.