China to levy extra tariff on U.S. commodities
2018-09-19 13:56:47 [Print]
China's tariff authority announced on 18 September that China will levy an extra tariff on U.S. commodities worth about USD60 billion. Based on Foreign Trade Law and Regulations on Import and Export Duties of P.R.C and approved by the State Council, the tariff authority decided to impose an extra tariff of 10% or 5% on 5,207 tax items of U.S. commodities worth about USD60 billion, effective from 12:01 of 24 September, 2018.
On 11 July, 2018, the U.S. government announced to levy an extra tariff of 10% on Chinese commodities worth USD200 billion and increased the rate to 25% on 2 August. On 18 September, 2018, the new tariff came into effect, according to which an extra tariff of 10% will be imposed from 24 September and the rate will be increased to 25% from 1 January, 2019. In order to protect free trade and multilateral mechanism and defend China's legitimate rights and interests, China has to levy an extra tariff on U.S. commodities worth about USD60 billion as released earlier in a list.
On 11 July, 2018, the U.S. government announced to levy an extra tariff of 10% on Chinese commodities worth USD200 billion and increased the rate to 25% on 2 August. On 18 September, 2018, the new tariff came into effect, according to which an extra tariff of 10% will be imposed from 24 September and the rate will be increased to 25% from 1 January, 2019. In order to protect free trade and multilateral mechanism and defend China's legitimate rights and interests, China has to levy an extra tariff on U.S. commodities worth about USD60 billion as released earlier in a list.
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Unit:RMB/mt 100-basis
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Unit: 10,000mt
