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Monday, June 18, 2018

Xinhua: The Customs Tariff Commission of the State Council issued an announcement deciding to impose tariffs on US$50 billion imported products originating in the United States


The Customs Tariff Commission of the State Council issued an announcement deciding to impose tariffs on US$50 billion imported products originating in the United States


Xinhua News Agency, Beijing, June 16 (Reporter Han Jie) On June 15, 2018, the U.S. government issued a list of goods subject to tariffs, which will impose a tariff of 25% on approximately US$50 billion of goods imported from China. About 34 billion U.S. dollars of goods began to impose tariff measures from July 6, 2018, and began to solicit public opinions on about 16 billion U.S. dollars worth of goods. The US measure violated the relevant rules of the World Trade Organization and is contrary to the consensus reached in the economic and trade negotiations between China and the United States. It seriously violates the legitimate rights and interests of our country and damages the interests of our country and people.

  Pursuant to the laws and regulations of the People's Republic of China Foreign Trade Law, the People's Republic of China Import and Export Tariff Regulations, and the basic principles of international law, the State Council Customs Tariff Commission issued an announcement with the approval of the State Council, deciding that 659 items originating in the United States should be approximately US$50 billion. Imported goods will be subject to a 25% tariff, of which 545 items of about 340 billion U.S. dollars worth of goods such as agricultural products, automobiles, and aquatic products will be imposed with tariffs from July 6, 2018, and the implementation time for additional tariffs on other goods will be announced separately.

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  An Interpretation of the Responsible Person in the Office of the Customs Tariff Commission of the State Council for Imposing Tariff Collection on Some Imported Goods from the United States

   The relevant person in charge of the Office of the Customs Tariff Commission of the State Council said on the 16th that on June 15, 2018, the U.S. government announced that it would impose a tariff of 25% on about US$50 billion of goods imported from China, of which about US$34 billion will be used since 2018. On July 6th, the implementation of tariff escalation measures began, and at the same time, it imposed public opinions on about 16 billion U.S. dollars worth of goods. The U.S. practice violates the relevant rules of the World Trade Organization and is contrary to the consensus reached in the economic and trade negotiations between China and the United States. It seriously violates our legitimate rights and interests and damages the interests of our country and people. China firmly opposes it.

  The U.S. imposes a 25% tariff on thousands of commodities worth about US$50 billion. It will substantially change the terms of trade of U.S. goods with the U.S., and affect the production and trade of these commodities' production and trading enterprises and their upstream and downstream affiliates. Operating. To this end, in response to the above-mentioned emergencies caused by the United States' violation of its international obligations in China, China decided to comply with the basic principles of international law and in accordance with the laws and regulations and authorizations of the People's Republic of China Foreign Trade Law and the People's Republic of China Import and Export Tariff Regulations. The same amount of imported goods in the United States is subject to the same level of taxation to protect their legitimate rights and interests.

  The Chinese side noticed that the United States issued a statement saying that if China takes retaliatory measures, the United States will continue to add additional tariffs. In this regard, China will reserve the right to take corresponding measures.

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  Xinhua Times Commentary: The United States will reverse the trend and will certainly pay a price

  The US announced trade measures to China on June 15th, again provoking a trade war against China. This veritable behavior of the United States not only undermines the consensus of both parties and damages the world trade order, but also constantly dispels the trust of the world and ultimately hurts itself.

  Recalling the economic and trade frictions between China and the United States, from May 3 to June 3, the three Sino-U.S. consultations moved forward in a candid manner toward solving the problem. Now Trump's government has once again appeared "do not fly" behavior, taxing China's goods "destructively", ignoring the overall situation of bilateral economic and trade relations, and moving further and further away in the unilateralism and trade protectionism astray. The U.S. will arbitrarily override the international rules and arbitrarily give up the rule system it has advocated. It will not solve the problem and will allow China and the United States to negotiate all the results before returning to zero. It will also have a major impact on the U.S. international image and reputation. .

  With the adjustment of the international economic and trade pattern, the U.S.'s competitiveness in the world has declined, and the promotion of unilateralism and trade protectionism has become the forerunner of its "U.S. priority" strategy. Against this background, there will inevitably be frictions between China and the United States, and it will become normal to talk about playing with all kinds of variables. However, this does not mean that one party can act arbitrarily and unilaterally to launch a trade war.

  If the trade war provoked the party does not feel pain, it will not stop its unreasonable behavior. In the face of unilateral provocations by the United States, we must resolutely fight back hard. China's position of defending the interests of the country and its people has always remained unchanged. The determination to safeguard economic globalization and the multilateral trading system has never changed. China is absolutely not afraid of any war and difficulties, and the Trump administration will behave in an awkward and capricious manner and will surely be equal. Measures of the same magnitude and countermeasures are used to counterattack. "There is preparation for small, medium, and big hits."

  The wise build bridges, and the fools build walls. In today's economic globalization, there are no isolated islands, and no country is willing to create barriers and move against the historical trend. In the face of problems and differences, it is upholding the community of human destiny, embracing the world with openness, cooperation, and mutual benefit, or choosing the country's own priorities and closing the door to building. China and the United States are using their own actions to give answers. Faced with the history of a trade reversal, the countries of the world should join hands to better safeguard economic globalization and the multilateral trading system.

  The efforts of the Chinese side to expand its opening up are not due to pressure from the United States, nor will they stop at the provocation of the United States. For China, no matter how the external environment changes, China will never yield to external pressure, nor will it change its pace of development. Going along the path of expanding and opening up is China's best response to the trade dispute between China and the United States, and it is also the responsibility of the great power that should be in the world.



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John Case
Harpers Ferry, WV
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