China to increase tariffs on US goods in retaliation

Tuesday, 14 May 2019 15:38:32 (GMT+3)   |   Shanghai
       

In response to the US decision to raise tariffs from 10 percent to 25 percent on Chinese commodities as of May 10, the Chinese State Council’s Customs Tariff Commission decided on May 13 to increase tariffs on the bulk of $60 billion of US imports in three categories to rates between 10 percent and 25 percent, while the rest of US imports will remain subject to a five percent tariff rate. The tariffs will be imposed on products, including food, chemicals and auto parts, and will take effect as of June 1, 2019.

In particular, tariffs hikes will be imposed on some steel products with the HS codes 7201, 7202, 7203, 7205, 7206, 7207, 7208, 7209, 7210, 7211, 7214, 7215, 7216, 7217, 7218, 7219, 7220, 7221, 7222, 7223, 7224, 7225, 7226, 7227, 7228 and 7229, with tariff rates of 10 percent, 20 percent and 25 percent. 


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