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The First Shot Of A Trade War Has Triggered A Big Change In The Us Tariff List
- Jul 10, 2018 -

According to the xinhua news agency, U.S. customs and border protection, the United States at 00:01onsaturday (UK time) on July 6, local time (Beijing time 6 at 12:01) up to the first on the list 818 categories, 25% of the $34 billion worth of Chinese goods imposed on import tariffs.China retaliated by imposing 25 per cent import duties on us goods of the same size ($34 billion) on the same day.The measures were put into effect at 12:01 Beijing time on July 6.

A spokesman for the ministry of commerce said on the same day that China promised not to take the first shot, but had to fight back to defend its own interests.

The first batch of 818 categories of tariffs list the main object of taxation on including automobiles, aircraft, and information and communication technology, and the Chinese size object of tariffs on agricultural products, automobile, aquatic products of 545 items.

In addition, the two sides also have a second batch of goods with tariffs.

US President Donald trump said on July 5 that another $16 billion in taxes on imports of Chinese goods (the second list) is under public scrutiny and will be announced at a separate time.

According to the previous announcement by the customs tariff commission of the state council, China will impose additional duties on 114 commodities including chemical products, medical equipment and energy products of the United States.

It is worth mentioning that the second us tariff list has changed considerably from the previous one.

There are 1,333 separate tariff items worth about $50 billion, according to the U.S. trade representative's (USTR) April 3 list of proposed Chinese goods.But now the list is 1102.

In fact, two months of public opinion scrutiny followed the release of the USTR's list of dutiable commodities to China.According to the official website of USTR, about 3,200 written submissions were received during this period, and the final decision was made:

Delete 515 items from the list originally proposed;

An additional 284 items will be added to target products that benefit from China's industrial policies.

Maintain the original proposed list of 818 items.