Cctv newsOn July 11th, 2018, the US government issued a measure to impose a 10% tariff on about $200 billion of goods imported from China. On August 2nd, the US Trade Representative announced that he planned to raise the tax increase rate from 10% to 25%. The United States has deviated from the consensus of many consultations between the two sides, unilaterally escalated trade frictions again, seriously violated the rules of the World Trade Organization, undermined the global industrial chain and free trade system, substantially harmed the interests of our country and people, and will also have a negative impact on the world economic development including the United States.
In response to the above measures of the US, China was forced to take countermeasures. According to People’s Republic of China (PRC)’s Foreign Trade Law, People’s Republic of China (PRC)’s Import and Export Tariff Regulations and other laws and regulations and the basic principles of international law, with the approval of the State Council, the State Council Customs Tariff Commission decided to impose tariffs ranging from 25%, 20%, 10% and 5% on 5,207 items of goods originating in the United States. If the United States goes its own way and puts its tariff increase measures into practice, China will immediately implement the above tariff increase measures.
The purpose of China’s adoption of the above-mentioned tariff increase measures is to defend its legitimate rights and interests and curb the escalation of trade friction through countermeasures. At the same time, relevant measures also minimize the impact on China’s domestic production and people’s living needs. After the implementation of the above measures, the relevant departments will evaluate the effect of the measures together with all sectors of society, and strive to minimize the impact of the measures on domestic production and life in China.
China promises to continue to unswervingly promote reform and opening up in accordance with the established deployment and pace, firmly support economic globalization, firmly safeguard the principle of free trade and the multilateral trading system, and develop and share prosperity with all countries in the world that pursue progress.
A spokesman for the Ministry of Commerce spoke on China’s plan to take countermeasures against some products imported from the United States.
A spokesman for the Ministry of Commerce spoke on China’s plan to take countermeasures against some products imported from the United States.
Recently, on the basis of the list of 10% tariffs on China’s $200 billion products exported to the United States, the United States proposed to raise the tax rate from 10% to 25%. In this regard, China has decided to impose tariffs on about 60 billion US dollars of products imported from the United States according to four different tax rates. China’s counter-measures against differentiated tax rates are rational and restrained, which were put forward after listening to opinions extensively and carefully evaluating the impact, especially taking into full consideration the welfare of the people, the endurance of enterprises and the maintenance of the operation of the global industrial chain. The implementation date of the taxation measures will depend on the actions of the United States, and China reserves the right to continue to introduce other countermeasures. China has always believed that consultation on the basis of mutual respect, equality and mutual benefit is an effective way to resolve trade differences. Any unilateral threat or blackmail will only intensify contradictions and harm the interests of all parties.
The Chinese side once again stressed that because the US has repeatedly escalated the situation regardless of the interests of enterprises and consumers of both sides, China has to take necessary countermeasures to defend national dignity and people’s interests, free trade and the multilateral system, and safeguard the common interests of all countries in the world.