China Levy A 25% Tariff On US $16 Billion Imports: Ministry Of Commerce: Reciprocal Counteraction, Simultaneous Implementation

Since the US first published a list of taxes on China's $50 billion commodity, Sino US trade frictions have escalated.

In August 8th, the office of the United States Trade Representative (USTR) announced the second batch of tariffs on Chinese imports worth 16 billion US dollars, and announced that the list will come into force on the 23 th of this month.

USTR said the final list contained 279 of the 284 tariff items announced in June 15th, including motorcycles, steam turbines and other products, and will impose a 25% tariff.

On the evening of 8 Beijing time, the official website of the Ministry of finance of China announced the announcement of the Customs Tariff Commission of the State Council on the Levy of tariffs on imported goods originating in the United States of about 16 billion dollars. It decided to impose 25% duties on imports of US $16 billion from 12 01 in August 23, 2018.

US moves lead to domestic dissatisfaction

With the landing of the $16 billion tax list, the first round of 50 billion US dollar competition has come to an end.

According to reports, USTR announced new tariff measures in an e-mail statement on Tuesday. The $16 billion list contains 279 tariff details, which are lower than the original 284.

The new tariff list includes motorcycles, steam turbines and rail locomotives.

It is noteworthy that the latest $16 billion tax list is expected to impact semiconductor products from China, even though many of the products are used in the United States, South Korea and other places.

The target of 25% tariffs also includes China's electronic products.

Chemicals and railway equipment.

John Neuffer, President and chief executive of SIA, stressed in a statement the same day: "we have indicated to the government in the strongest terms that tariffs on semiconductors imported from China will harm us chipmakers, not China.

And it does not help stop China's problems and discriminatory trade practices.

The daily economic news reporter found that the US side announced today's $16 billion list of 279 items, compared to the previous 284, reducing shipping containers, floating dock, sawing machine products, and so on.

Bai Ming, deputy director of the International Market Research Institute of the Ministry of Commerce, said in an interview with "daily economic news" that the first US $50 billion tax collection list was mainly focused on high-end.

In an attempt to curb "made in China 2025".

"Before, ZTE's experience once again proved the intention of the United States, in fact, China's exports of semiconductor products, a considerable number of chips from the United States."

China list focuses on three main categories

On the evening of August 8th, a spokesman for China's Ministry of Commerce made a statement on the counter measures adopted by the Chinese side on imports of US $16 billion from the US.

The spokesman pointed out that the act of the United States once again overcame the domestic law over international law and was very unreasonable.

In order to safeguard its legitimate rights and interests and multilateral trading system, the Chinese side had to make the necessary counter measures, and decided to levy a tariff of 16 billion on imports of US $25% from the United States, and to synchronize with the US side.

The daily economic news reporter, through detailed sorting out the Chinese counterpart list, found that there are 333 taxable items in the current tax list of US $16 billion. There are roughly 3 categories, one is gasoline, kerosene, diesel, natural gas, lubricating oil and other energy products. The second category mainly includes industrial iron and steel products and copper scrap.

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Titanium scrap and other metal products; the third main categories include passenger cars, bicycles and other types of pport.

It is noteworthy that among the 333 tax items announced by the Chinese side, the pport sector accounts for about 180 taxable items, accounting for about 54%, and all kinds of gasoline, diesel and electric vehicles are included in this list.

Reporters noted that after the Ministry of Finance issued a notice, since July 1st, to reduce import tariffs on motor vehicles and parts.

Among them, the vehicle tax rate of 25% tax rates of 135 and 20% tax rates of 4 tax rates to 15%.

However, with the implementation of the current round of $16 billion tax collection list, imported cars from the United States will impose a 25% tariff on the basis of 15% tariffs, which means that imported cars from the United States will no longer be at the same level as those imported from other origins.

According to the data released by China industrial information research network, in 2017, China imported 280 thousand and 200 US cars and imports amounted to 13 billion 70 million yuan, while China exported to the United States 53 thousand vehicles, accounting for 5% of China's total vehicle exports and exports of only 1 billion 430 million US dollars.

In the field of new energy vehicles, China

The export of new energy vehicles to 1321 vehicles, the total amount of only 76 million 940 thousand yuan, while the import of new energy vehicles in the United States 63 thousand vehicles, the value of goods far exceeds the export volume.