On May 4 and 8 local time, USTR released the exclusion list of the 27th and 28th batches of Chinese products with tariff increases of US $200 billion and US $300 billion respectively.
Just half a year after the signing of the first phase of the economic and trade agreement between China and the United States, on the morning of May 8, the leaders of the two sides made the first call. Liu He, member of the Political Bureau of the CPC Central Committee, vice premier of the State Council and China's leader of the China US comprehensive economic dialogue, spoke with us trade representative lait sizer and finance minister mu nuqin at the invitation. The two sides said that they should strengthen cooperation in macro-economy and public health, strive to create favorable atmosphere and conditions for the implementation of the first phase of economic and trade agreement between China and the United States, and promote positive results.
Both sides agreed to maintain communication and coordination.
In more than 10 rounds of calls between China and the United States leaders in the past two years, it is the first time to mention "strengthening macroeconomic and public health cooperation". This reflects the novel coronavirus pneumonia epidemic spreading to the global economy, and brings some uncertainty to the implementation of the agreement.
On May 4, USTR released the 27th batch of exclusion list for China's tariff added goods, mainly involving the complete exclusion of products under two tax numbers and 144 products under 106 tax numbers. The exclusion effect is that no matter whether the U.S. importer has submitted the exclusion request or not, any enterprise meeting the product description of this exclusion list can enjoy the exemption of additional duties.
The period of validity of the product exclusion levy announced in this announcement is from September 24, 2018 to August 7, 2020.
On May 8, USTR released the 28th batch of exclusion list for China's tariff added goods, which mainly involved the complete exclusion of all goods under three tax numbers and five items under five tax numbers in the list 4a of 300 billion tariff products, including medical plastic water cup or kettle liner, disposable plastic identification wristband worn by patients in the medical process and other products. That is to say, the products with 8 Tax numbers and more than one item in the exclusion list will be exempted from additional tax within one year from the date of implementation of the additional tax 7.5% Tariff.
The period of validity of the product exclusion levy announced in this announcement is: September 1, 2019 to September 1, 2020.
At present, 13 exemptions have been passed for 200 billion Chinese products exported to the United States, and 873 products involved in the total have been excluded from tariff. The 300 billion Chinese products exported to the United States have passed four exemptions, most of which are medical and related materials.
Up to now, the United States has imposed a total of 4 tariff lists and 28 round exemption lists. The following are the corresponding batches and exemption rounds of products subject to additional tariff as well as the corresponding specific implementation tax rates, lists and schedules as follows: