Today is 06/16/2024

Tariffs Commission: to adjust tariffs on US imports

2020-02-06 www.cofeed.com

In order to promote the healthy and stable development in China-US economic and trade relations and according to Customs Law of the People's Republic of China, Foreign Trade Law of the People's Republic of China, and Regulations on Issuing the Import and Export Duties of the People's Republic of China, State Council Tariffs Commission has determined to adjust additional tariffs on US imports worth $75 billion. From 13:01 on Feb 14, 2020, the additional tariff rates will be adjusted to 5% for those of 10% imposed on Sept 1, 2019, and to 2.5% for those of 5% originally.