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China Imposes Additional Tariffs on US$75 Billion Worth of US Imports

China is to impose additional tariffs of 5-10% on 5,078 categories of US-origin imports (collectively valued at about US$75 billion). These levies are to be introduced on a two-step basis with the first tranche scheduled for 1 September 2019 and then a second batch coming into effect on 15 December 2019. The move comes in response to a 15 August announcement that the US is to introduce 10% additional tariffs on US$300 billion worth of China-origin imports on a similar two-pronged basis (1 September and 15 December).

Despite the stakes being raised again in the on-going US-China trade dispute, the Customs Tariff Commission will continue to consider exclusion requests with regard to any affected US products. Furthermore, no US goods previously exempted from earlier additional tariffs will be affected in this supplementary round. Items not included in the first two product exclusion lists, however, may be included in the third list. The exact exemption application procedures will be announced in due course.

Full details of this latest tariff round can be found in the Announcement on Imposing Additional Tariffs on Some Imported Goods (Third Batch) Originating from the US (Announcement No. 4 [2019]), as issued by the Customs Tariff Commission of the State Council.

Source: Ministry of Finance

Content provided by Picture: HKTDC Research
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