On the evening of April 1, the official website of the Ministry of Finance said that, with the approval of the State Council, the State Council's Customs Tariff Commission decided to suspend duty concessions on some imported goods originating in the United States and to implement them since April 2, 2018.
The Treasury said March 8, 2018, U.S. President Trump signed a notice that imports of steel and aluminum products threaten U.S. national security, decided to start on March 23, the import of steel and aluminum products tariffs (ie, 232 measures). The Treasury believes that the 232 measures violate the rules of the World Trade Organization and do not conform to the "safety exceptions", which in effect constitute safeguards. This measure was implemented on March 23 and has caused serious damage to our interests. In order to safeguard our interests and balance the losses caused by the 232 measures of the United States to our interests, since April 2, 2018, I have suspended the duty concession on 7 categories of 128 imported goods originating in the United States, imposing tariffs on the existing applicable tariff rates, and imposing a duty rate of 15% on 120 imported goods such as fruit and products, The tariff rate for 8 items of imported goods, such as pork and products, is 25%.
The existing bonded and tax exemption policy is unchanged. The Ministry of Finance said that China's advocacy and support of the multilateral trading system, the United States to suspend tariff concessions is China's use of World Trade Organization rules to safeguard our interests and take the legitimate initiative.