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From July 31, the United States resumed to impose 25% tariff on 55 Chinese products
Aug 26, 2020|
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On July 27 local time, the U.S. trade representative's Office released the seventh batch of products with extended validity period of exclusion (16 billion US dollars of products in the tariff exclusion list), which was originally scheduled to expire on July 31, 2020. The notice decided to extend the validity of the exclusion from July 31, 2020 to December 31, 2020. From July 31, 25% tariff will be added to some commodities!
There are 69 items in the first batch of products excluded from the original tariff of US $16 billion. Only 14 products have been extended this time, and 55 products have not been extended.
This means that a 25% tariff increase will be resumed on these 55 excluded products from July 31, 2020, US Eastern time. Remind enterprises that have goods exported to the United States to sign contracts with American customers after July 31.
In the background of the extension of the 16 billion exclusion period, the United States has imposed an additional tariff list on China's US $16 billion exports to the United States, which has been officially implemented since August 23, 2018, with an additional tax rate of 25%.
On July 31, 2019, the United States approved the exclusion of the first batch of US $16 billion tariff increase list, with an effective period of one year. By July 31, 2020, the validity of the first $16 billion tariff exclusion list will expire.
On April 30, 2020, the United States opened an online consultation channel to solicit public opinions on extending the validity of the exclusion list.
