On Mar. 23, 2018, China Ministry of Commerce announced a proposed tariff increase on American products in response to a recent increase in tariffs made by the US on Chinese steel and aluminum products. Concessions Suspension list is opened for public feedback, including 7 product categories (amounting to 128 tax items) targeting 3 billion dollars' worth of US exports to China. Food accounts for the majority of proposed tariff increases.
The Concessions Suspension list consists of 2 sections. 120 tax items in section 1 are proposed to have tariffs increased by 15%, impacting 977 million dollars of US exports to China. 8 tax items in section 2 are proposed to have tariffs raised by 25%, impacting 1.99 billion dollars of US exports. The details are listed as below:
| Product categories | Tariffs increase |
Section 1 | Fresh fruit | +15% |
Dried fruit and nut | ||
Wine | ||
Denatured ethyl alcohol | ||
American ginseng | ||
Seamless steel tube | ||
Section 2 | Pork and pork products | +25% |
Recycled aluminium |
If America fails to make a trade compensation agreement with China within a designated time limit, products in section 1 will be subject to new tariffs. Products in section 2 will follow based on further evaluation of the impact.
Please read Concessions Suspension list for detailed products concerned
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