ZCZC
BCN-24
CHINA-US-IMPORT-TARIFF
China decides to impose additional tariffs on 50 bln USD of U.S. imports
BEIJING, June 18, 2018 (BSS/Xinhua) — China has unveiled a list of
products from the United States that will be subject to additional tariffs in
response to U.S. announcement to impose additional duties on Chinese imports.
Approved by the State Council, the Customs Tariff Commission of the State
Council has decided to impose additional duties of 25 percent on 659 items of
U.S. products worth about 50 billion U.S. dollars.
Additional tariffs for 545 items worth about 34 billion U.S. dollars,
including agricultural products, vehicles and aquatic products, will be
effective from July 6, 2018, according to a statement of the commission.
The implementation date for imposing additional tariffs on the remaining
114 items, covering chemical products, medical equipment and energy products,
will be announced later.
The decision has been made in line with relevant stipulations of the
Foreign Trade Law of China and the Regulations of the People’s Republic of
China on Import and Export Duties, as well as the fundamental principles of
international laws, said the statement.
On Friday, the United States announced additional tariffs of 25 percent on
Chinese imports worth approximately 50 billion U.S. dollars.
From July 6, additional tariffs will be levied on some 34 billion U.S.
dollars worth of Chinese products. Meanwhile, the other 16 billion dollars
worth of Chinese products will undergo further review in a public notice and
comment process.
“The U.S. move violates the relevant rules of the World Trade Organization,
goes against the consensus already reached in bilateral economic and trade
consultations, seriously infringes upon the legitimate rights and interests
of the Chinese side and undermines the interests of China and its people,”
said the statement. “The Chinese side firmly opposes that.”
An official in charge of the Office of the Customs Tariff Commission said
that the additional tariffs targeting Chinese goods, once imposed, would
“substantially change” the trade conditions of these goods, and affect
relevant producers and trade companies as well as the production and
operation of the upstream and downstream industries.
The official said the Chinese action was taken in response to the emergent
circumstances caused by the U.S. violations of international obligations.
China has noticed the U.S. statement that it will continue to impose
additional tariffs if China takes retaliatory measures. China reserves its
rights to take corresponding measures, according to the official.
BSS/XINHUA/HR/1440