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News on China-US Trade War 2019-12-18


December 15th, Xinhua News Agency Beijing announced the results of the recent consultations between China and the United States on economic and trade issues, in accordance with laws and regulations such as the Customs Law of the People's Republic of China, the Foreign Trade Law of the People's Republic of China, and the Import and Export Tariff Regulations of the People's Republic of China, Basic principles of international law, the Tariff Commission of the State Council has decided that for some imported goods originally originating in the United States, tariffs will be levied starting at 12:01 on December 15th. For the time being, 10% and 5% tariffs will not be levied. U.S. autos and parts continue to suspend tariffs. In addition to the above measures, other tariff collection measures against the United States and Canada continue to be implemented in accordance with regulations, and the elimination of tariff collection products from the United States and Canada continues.

 

Until today, we have not received any official tariff announcement on the US side. China hopes to work with the United States on the basis of equality and mutual respect to properly resolve each other's core concerns and promote the stable development of Sino-US economic and trade relations.

 

Warm tips: The U.S. customers need to keep an eye on changes in U.S. tariff, as insulation products are included in the U.S. tax increase list. HS code 961700. It contains vacuum airpot, vacuum coffee pot, vacuum flask, vacuum bottles and vacuum tumbler. 

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