Applications for 2nd round tariffs exemption on US imports to start

Source:Global Times Published: 2019/8/29 12:58:40

China on Wednesday announced the opening of its second-round application portal for exemption from additional tariffs on imports from the US, and will officially start accepting applications from next Monday.  

The second round, for enterprises, business associations or chambers of commerce in China, will end on October 18, according to a statement from the Customs Tariff Commission of the State Council, China's cabinet.

Certain eligible goods will be excluded from the list of tariffs imposed on the US, and other measures will also be taken, such as offering temporary tariff exemptions or refunds, read the statement.

This round of applications does not cover goods for which tariffs have already been removed or suspended, such as automobiles and auto parts. On August 23, China announced that it would resume imposing additional tariffs of 25 percent or 5 percent on automobiles and auto parts made in the US from December 15, according to the Customs Tariff Commission.

China will also launch an exemption process for the newly-announced third round of additional tariffs on US imports worth 75 billion dollars, Xinhua News Agency reported on Wednesday, adding that newly-resumed tariffs on automobiles and auto parts may also be included in the tariff-exemption applications later.

"China is adopting a delicate strategy in its trade war with the US, and will not choose to crack down on all parties," Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce, told the Global Times on Thursday.

Excluding certain products from the tariff list will minimize damage for some domestic importers and consumers, Bai said.





Posted in: MARKETS,ECONOMY

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