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China To Impose Tariffs On 128 U.S. Imports

Apr 03, 2018

According to the news, March 8, 2018, U.S. President Trump signed a notice that imports of steel and aluminum products threaten U.S. national security, decided to start on March 23, the import of steel and aluminum products to impose tariffs (ie, 232 measures). 232 measures violate the rules of the World Trade Organization, do not conform to the "safety exception" provisions, in effect constitute a safeguard measure. This measure was implemented on March 23 and has caused serious damage to our interests. In order to safeguard our interests and balance the losses caused by the 232 measures of the United States to our interests, since April 2, 2018, I have suspended the duty concession on 7 categories of 128 imported goods originating in the United States, imposing tariffs on the existing applicable tariff rates, and imposing a duty rate of 15% on 120 imported goods such as fruit and products, The tariff rate for 8 items of imported goods, such as pork and products, is 25%.

The existing bonded and tax exemption policy is unchanged. March 23, the Ministry of Commerce issued a list of 232 measures for U.S. imports of steel and aluminum, and asked for public comment. March 31, the end of the review period. During the commentary, a large number of people in the telephone, e-mail and other means to support the measures and product list, in favor of the government to take measures to protect national and industrial interests, some people also proposed to increase efforts.

After the assessment, decided to import 128 products from the United States to implement the above measures. China believes that the United States to take 232 measures to import steel and aluminum products, the misuse of the WTO "security exception" clause, essentially constitutes a safeguard measure, and its measures for only a small number of countries, a serious violation of the multilateral trading system as the cornerstone of the principle of non-discrimination, serious violations of Chinese interests. March 26, China in accordance with the Safeguards Agreement in the WTO to the United States to propose trade compensation consultation request, the United States refused to reply.

In view of the lack of agreement between the two sides, March 29, China briefed the WTO on the suspension of the list of concessions, decided to import some products from the United States to impose tariffs to balance the U.S. 232 measures to the Chinese side of the loss of interest. China's right to suspend part of its obligations to the U.S. It is hoped that the US side will withdraw the measures to violate WTO rules as soon as possible, so that trade between China and the US should return to normal orbit. China and the United States, as the world's two largest economies, cooperation is the only right choice. The two sides should resolve each other's concerns through dialogue and consultation, achieve common development and avoid further damage to the overall situation of Sino-US cooperation.

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