12 February 2020

China Cuts Tariffs on Certain U.S Origin Goods

On February 6, 2020, the Ministry of Finance of China (the “MOF”) announced tariff cuts for certain U.S.-origin goods.  The additional tariff was reduced from 10% to 5% for goods within 270 tariff-items listed in Part 1 and 646 tariff-items listed in Part 2 of Annex 1 to the Announcement of the Customs Tariff Commission of the State Council on Imposing Tariffs on Certain U.S.-Origin Goods (Third Batch) (Customs Tax Commission Announcement [2019] No. 4) (the “2019 Announcement”).  In addition, the additional was reduced from 5% to 2.5% for 64 tariff-items listed in Part 3 and 737 tariff-items listed in Part 4 of Annex 1 to the 2019 Announcement.  Tariff reductions are effective as of 13:01 February 14, 2020.

An official of the Customs Tariff Commission of the State Council (the “CTC”) noted that the tariff reductions are reciprocal measures to similar tariff cuts announced by the U.S. government on January 16, 2020, reducing the tariffs levied on $120 billion worth of Chinese goods since last September to from 15% to 7.5%, effective on February 14, 2020.  According to the CTC official, the next adjustment measures would depend on the development of the U.S.-China economic and trade situation.

Media Contact

Share on LinkedIn Share on Facebook Share on Twitter
    You might also be interested in

    Global law firm KWM is expanding its offering in Singapore with the appointment of M&A partner, Jake Robson.

    16 March 2020

    KWM has risen in the rankings of the world’s best legal brands, jumping two places to 14th in the 2020 Acritas Global Elite Law Firm Brand Index.

    24 January 2020

    KWM is expanding its US practice with the addition of international corporate partner Thomas M. Shoesmith. Mr. Shoesmith will play a key role in the ongoing development of the firm’s ability to serve...

    17 October 2019

    King & Wood Mallesons’ London-based dispute resolution team is strengthening its dispute resolution practice with the promotion of Natalie Quinlivan to Of Counsel, with effect from 2 September 2019.

    23 September 2019

    This site uses cookies to enhance your experience and to help us improve the site. Please see our Privacy Policy for further information. If you continue without changing your settings, we will assume that you are happy to receive these cookies. You can change your cookie settings at any time.

    For more information on which cookies we use then please refer to our Cookie Policy.