China Raises Tariffs On US $75 Billion Imports

In August 15, 2019, the US government announced that 10% tariffs were imposed on about 300 billion US dollars imported from China, and two batches were implemented in September 1, 2019 and December 15th. The US side's measures have led to the continued escalation of Sino US economic and trade frictions, which has greatly damaged the interests of China, the United States and other countries, and also seriously threatened the multilateral trading system and the principle of free trade.

In response to the US side's measures, China is forced to take counter measures. According to the Customs Law of the People's Republic of China, the People's Republic of China foreign trade law, the People's Republic of China import and export tariff regulations and other basic principles of international law, with the approval of the State Council, the Customs Tariff Commission of the State Council has decided to impose tariffs of 10% or 5% on 5078 items of tax or about 75 billion dollars originating in the United States. The two batches have been implemented since 12 minutes 01 minutes in September 1, 2019 and 01 points at 12 o'clock in December 15th.

The Customs Tariff Commission of the State Council will continue to eliminate tariffs on commodities in the US and Canada. In the list of $75 billion merchandise, the excluded commodities that have been audited and determined shall not be subject to any customs duties imposed by the 301 measures against the United States according to the exclusionary method. If the goods excluded from the first two batches are excluded, they will be included in the third batches which can be applied for exclusion.

The adoption of tariff measures by the Chinese side is a forced move to deal with unilateralism and trade protectionism. China once again reiterates that cooperation is the only right choice for China and the United States. Win-win situation can lead to a better future. I hope China and the United States will resolve differences based on mutual respect, mutual equality and words and deeds, as well as mutual agreement between the two sides, and actively build a balanced, inclusive and win-win new Sino US economic and trade order. We will jointly safeguard and promote reform and improve the multilateral trading system and promote mutually beneficial and win-win cooperation with other countries in the world.