China releases first list of U.S. goods exempted from retaliatory tariffs

The Customs Tariff Commission (CTC) of the Ministry of Finance (MOF) of the People's Republic of China (PRC) announced its first batch of tariff exemptions (List 1 and List 2,Exemption Lists) on 11 September 2019 for 16 U.S. products, including some lubricants and anti-cancer drugs, as well as animal feed ingredients such as whey protein, fish meal, and shrimp and prawn seedlings.

Background

In response to the Section 301 duties imposed by U.S. Trade Representative, the Chinese government to date has imposed tariffs on selected U.S. import goods in the following three batches of lists:

  • 25 percent ad valorem rate of duties on US$34 billion of U.S. goods listed in List 1A, effective on 6 July 2018, per the CTC's notice on 16 June 2018;
  • 25 percent ad valorem rate of duties on US$16 billion of U.S. goods listed in List 1B, effective on 23 August 2018, per the CTC's notice on 8 August 2018;
  • 5 to 25 percent ad valorem rate of duties on US$60 billion of U.S. goods listed in List 2, effective on 1 June 2019, per the CTC's notice on 13 May 2019;
  • 5 or 10 percent ad valorem rate of duties on US$75 billion of U.S. goods listed in List 3A effective on 1 September 2019, and List 3B, effective on 15 December 2019, per the CTC's notice on 23 August 2019.

Read More: China releases first list of U.S. goods exempted from retaliatory tariffs



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