The United States officially announced that the delayed tax increase officially landed!
On March 2, an official of the Customs Tariff Commission of The State Council said that we have noted the announcement by the Office of the United States Trade Representative (USTR) that the additional tariff rate on imported goods from China, which has been subject to additional tariffs since September 2018, will remain at 10% until further notice. In this regard, the relevant person in charge of the Customs Tariff Commission of The State Council welcomed the above measures taken by the US side.
After several rounds of economic and trade consultations, China and the United States have had multiple rounds of economic and trade consultations. US President Donald Trump said on the 24th that he would postpone the tax increase originally scheduled for March 1.
Recently, the Office of the US Trade Representative officially announced that the US $200 billion of imports from China that have been subject to additional tariffs since September 2018 will not be increased, and the additional tariff rate will remain at 10% until further notice. Please note that for products that were subject to a 25% tariff increase in July and August last year, the tariff increase is still 25%.
At the regular press conference of the Ministry of Commerce on the afternoon of February 28, spokesman Gao Feng said that in the future, China and the United States will do a good job in the next step on the basis of the seventh round of China-Us economic and trade consultations in accordance with the instructions of the two heads of state. It remains to be seen what good news the two heads of state will bring when they meet again in the near future.
Overall, since the Sino-US trade friction, the two sides have had seven economic and trade consultations.
Since the establishment of diplomatic ties 40 years ago, China and the United States have far more common interests in the economic and trade field than differences. In 2018, trade in goods between China and the United States exceeded US $630 billion, and two-way investment exceeded US $240 billion.
China-us economic and trade cooperation has formed a pattern of interdependence and converging interests, which has brought tangible benefits to the two countries and two peoples and provided a strong driving force for world economic development. To deepen and develop economic and trade cooperation between China and the United States is the choice of the market and the choice of businesses.
The ongoing trade war has brought a great impact on foreign trade import and export enterprises. Sino-us trade negotiations are still continuing, how to watch the future development!!
