CHINA-ECONOMY: TARIFFS AGAINST USA
As threatened, China's official news agency on April 2, 2018 confirmed that China with the approval of the State Council and the Customs Tariff Commission of the State Council decided, starting April 2, 2018, to suspend tariff concession obligations on the seven categories of 128 imported commodities originating in the United States. It said China has suspended duties on seven categories of 128 imported commodities originating from the United States and suspended customs duties, imposed tariffs on the basis of the current applicable tariff rates, and imported 120 items such as fruits and products. The tariff rate is increased by 15%, and the tariff rate is 85% for 8 imported goods such as pork and products. The current policy of tax-free and tax-exemption remains unchanged.
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