Original title: is it true that China imposes tariffs on some imports from the United States? What goods does China impose tariffs on the United States
On May 13, the office of the Tariff Commission of the State Council decided to increase the tariff rate on the part of the US $60 billion list of US goods that have been subject to tariff increases from 0:00 on June 1, 2019, by imposing 25%, 20% or 10% tariff increases respectively. The 5% tariff will continue to be imposed on the items previously subject to 5% tariff.
On May 9, 2019, the U.S. government announced that from May 10, 2019, the tariff rate on the $200 billion list goods imported from China will be increased from 10% to 25%. The office of the Tariff Commission of the State Council said that the above-mentioned measures of the US side have led to the escalation of Sino US economic and trade friction, violated the consensus of the two sides on resolving trade differences through consultation, harmed the interests of both sides, and did not meet the general expectation of the international community. In order to safeguard the multilateral trading system and its legitimate rights and interests, China has to adjust and impose tariffs on some imports from the United States.
The U.S. capital market also reacted quickly. As of press time, the decline of U.S. stock futures expanded, with NASDAQ futures down 2.26%, Dow futures down more than 500 points, and S & P 500 futures down 2%. The panic index, VIX, rose 25.94% to 20.2. Offshore RMB fell by more than 601 points against the U.S. dollar. It once fell to 6.91 and now stands at 6.9056. International gold once again stands at US $1290 / oz.
According to the website of the Tariff Commission of the State Council, on May 9, 2019, the U.S. government announced that from May 10, 2019, the tariff rate on the $200 billion list goods imported from China will be increased from 10% to 25%.
The Tariff Commission of the State Council said that the above-mentioned measures of the US side have led to the escalation of Sino US economic and trade frictions, violated the consensus of the two sides on resolving trade differences through consultation, harmed the interests of both sides, and did not meet the general expectations of the international community. In order to safeguard the multilateral trading system and its legitimate rights and interests, China has to adjust and impose tariffs on some imports from the United States.
According to the foreign trade law of the people's Republic of China, import and export tariff regulations of the people's Republic of China and other laws and regulations as well as the basic principles of international law, and with the approval of the Party Central Committee and the State Council, the Tariff Commission of the State Council has decided: from 0:00 on June 1, 2019, the tariff rate will be increased for the part of the US $60 billion list of US goods that have been subject to tariff increases, and the tariff rates will be implemented separately 25%, 20% or 10%. The 5% tariff will continue to be imposed on the items previously subject to 5% tariff.
The State Council Tariff Commission pointed out that China's adjustment of tariff measures is a response to US unilateralism and trade protectionism. China hopes that the US side will return to the right track of bilateral economic and trade negotiations, work together with China, and strive to reach a mutually beneficial and win-win agreement on the basis of mutual respect.
In addition, the Tariff Commission of the State Council has also issued an announcement to carry out the work of excluding tariff goods from the United States and Canada on a trial basis. According to the announcement, the Tariff Commission of the State Council accepts the application of relevant stakeholders, and on the basis of reviewing the relevant applications one by one, excludes some qualified commodities from the scope of imposing tariffs on the United States, and formulates and publishes an exclusion list. For the commodities on the exclusion list, the tariff imposed by China for the anti US 301 measures will not be imposed within one year from the date of implementation of the exclusion list; if the conditions for tax refund are met, the additional tariff will be refunded, and the relevant import enterprises shall apply to the Customs within six months from the date of publication of the exclusion list. For the goods whose tariff has been suspended or suspended before the release of the exclusion list, the tariff has been levied and will not be refunded.
Specifically, the applicant is the interested parties of the excluded goods, including the enterprises or their industry associations (associations) engaged in the import, production or use of the relevant goods. The scope of goods that can be applied for exclusion is the two rounds of countervailing measures against the United States that we have announced and implemented and have not stopped or suspended the imposition of tariffs.
When applying, the applicant should explain three reasons with facts and data
First, it is difficult to find alternative sources of goods;
Second, the imposition of tariffs has caused serious economic damage to the applicants;
Third, the imposition of tariffs has a significant negative structural impact on related industries (including the impact on industry development, technological progress, employment, environmental protection, etc.) or has serious social consequences. Those who do not meet the requirements will not be accepted. The applicant should go through the website of tariff policy research center of Ministry of finance http://gszx.mof.gov.cn Fill in and submit the exclusion application as required. The Tariff Commission of the State Council will organize experts and member units to examine the valid applications one by one, and formulate and publish the exclusion list according to the procedures.
About 60 billion US dollars of imported goods from the United States are subject to additional tariffs, of which 2493 items are subject to 25% tariff, 1078 items are subject to 20% tariff, and 974 items are subject to 10% tariff. 595 items are still subject to 5% tariff.
25% of the tariffs are mainly sheep meat, horse meat, honey, starch, sugar, mango juice, lime, liquefied natural gas, calcium, sodium sulfate, toluene, methanol, glutamic acid, urea, perfume, lip cosmetics, eye cosmetics, cotton knitted or crocheted men's tops, bone china tableware, laser printers, tablet computer, etc.
The commodities subject to 20% tariff mainly include flaxseed, vodka, mineral water, toothpaste, plastic toilet seat ring and cover, toilet paper, rivet, spring, marine compression ignition engine, thermal printer, shredder, bearing, etc;
The 10% tariff products include frozen sweet corn, baked peanuts, sodium acetate, first aid kit, medicine package, gel products specially used for human or veterinary medicine, electric blanket, rearview mirror, copper or German Silver tube, safety razor, marine outboard spark ignition engine, fire extinguisher, spraying robot, brass instrument, bowling ball, baby diaper and urine trousers.
The commodities subject to 5% tariff mainly include magnesium chloride, xylitol, ether, lemon oil, fireworks, firecrackers, cotton linter pulp, solar water heater, parts for oil or gas drilling machine, 3D printer, stethoscope, denture, etc.
Foreign Ministry: China never succumbs to external pressure
At the foreign ministry's regular press conference this afternoon, when he answered "when will the counter measures be implemented?" he humorously answered "wait and see". The voice just dropped. A few hours later, the counter measures came out.
After the tariff on US $200 billion of Chinese products exported to the US was raised from 10% to 25%, the US side further threatened to start the relevant procedures of levying 25% tax on the remaining US $325 billion of Chinese products exported to the US, and will announce the list on the 13th.
Geng Shuang responded that the imposition of tariffs will not solve any problem. China will never give in to external pressure. China is determined to be able to safeguard its legitimate and legitimate rights and interests. Still in that sentence, I hope that the United States and China can work together to solve each other's reasonable concerns on the basis of mutual respect and equality, and strive to reach a mutually beneficial and win-win agreement, which is in line with the interests of both sides and the expectation of the international community.
The 11th round of China US high level economic and trade consultation concluded in Washington on May 10. Liu He, member of the Political Bureau of the CPC Central Committee, vice premier of the State Council and Chinese leader of the China US comprehensive economic dialogue, said in an interview with reporters on the spot that the two sides had frank and constructive exchanges. Both sides agreed that to maintain a good momentum of consultation, the economic and trade teams of the two sides agreed that they would meet in Beijing soon to continue communication and promote consultation.
"The talks did not break down, but on the contrary, it is only a normal twists and turns in the negotiations between the two countries, which is inevitable. Liu he said that the consultation clarified the position on many issues and discussed the contents of the next consultation. China is cautiously optimistic about the future of the consultation. Now the two sides have consensus in many aspects, and there are also inconsistencies. This is a major issue of principle, and we can not compromise on the issue of principle.
Liu he said that China's strong opposition to the US tariff increase is not conducive to China, the United States, the world and the settlement of bilateral economic and trade issues. As far as China is concerned, if the US side imposes tariffs, China must counter it. It hopes that the US side will exercise restraint and not upgrade indefinitely.
From the perspective of China's economy, the medium and long-term cycle is very optimistic; from the perspective of the recent demand side, China's demand is huge, with huge investment and consumption markets. China is promoting supply side reform, and the competitiveness of industries, products and enterprises is comprehensively improved; from the macro level, there is sufficient space for monetary and fiscal policies, and policy tools are sufficient; From the micro point of view, entrepreneurs have confidence. Liu he said that I believe China's economy will maintain a good momentum of steady and healthy development.
Liu he pointed out that as long as we have confidence, we will not be afraid of any difficulties. Cooperation is the only correct choice. In the future, the two countries will certainly cooperate. The two countries have huge common interests. Only cooperation can solve the problems. The negotiation has entered a very specific text stage.
CCTV published an international review entitled "China is ready for a comprehensive response", which pointed out that China has long expressed its attitude towards the trade war launched by the United States: it is not willing to fight, but it is not afraid to fight, and it has to fight if necessary. In the face of both soft and hard hands of the United States, China has already given the answer: talk, the door is open; fight, accompany to the end.
The commentary said that no matter how the external situation changes, the most important thing for China is to do its own thing well, continuously deepen reform, expand opening up and achieve high-quality economic development. The next step for the United States is to talk, to fight, or to take other actions. China has fully prepared its policy toolbox and is ready for a comprehensive response.