The tariff commissioner of the state council decided to increase the tariff rate on some imported goods from the United States

Tariffs were raised on some American imports

The tariff commissioner of the state council decided to increase the tariff rate on some imported goods from the United States

On May 9, 2019, the us government announced that the tariff rate on us $200 billion worth of Chinese imports will be raised from 10% to 25% from May 10, 2019. The above-mentioned measures by the us side have led to an escalation of trade frictions between China and the us, run counter to the consensus reached by the two sides to resolve trade differences through consultation, harm the interests of both sides and do not meet the common expectations of the international community. In order to defend the multilateral trading system and its own legitimate rights and interests, China has to adjust and impose tariffs on some imported goods originating in the United States.

Tariffs were raised on some American imports

 

According to the foreign trade law of the People’s Republic of China regulations on the import and export tariff of the People’s Republic of China and other laws and regulations and basic principles of international law, approved by the party central committee and the state council, the state council tariffs commission decision, since June 1, 0 2019, has been in place for tariffs, $60 billion listing of the commodity part, raise tariffs rates, implementation respectively 25%, 20% or 10% tariffs. The 5 per cent tariff will continue to be imposed on all items previously subject to 5 per cent tariff.

China is responding to unilateralism and trade protectionism on the part of the us. China hopes that the us side will return to the right track of bilateral economic and trade consultations, make joint efforts with China, meet each other half way and strive for a mutually beneficial and win-win agreement on the basis of mutual respect.

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