USA / China: tax returns!
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Theme: |
International trade |
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Country: |
USA / CHINA / WORLD |
In spite of the climate that seemed to calm down between Beijing and Washington in early August, the US President surprised everyone by confirming his intention to tax a 4th list of Chinese products up to 10% from 1 September (cf.USA / China: Trump again attacked).
With the latter list, almost all products originating in China would now be subject to additional customs duties of between 10% and 25% upon entry into the country. States- United.
However, given the economic challenges associated with the end-of-year holiday approach and the potential impact on household consumption, the 4th list was divided into two: for certain products such astelephones, computers, certain toys, clothes and shoesthis measure will only be effective from 15 December*.
China soon reacted, announcing at the end of August that it would increase customs duties on products « made in USA » 5 to 10% in September and December. Imports of soybeans and automobiles and spare parts are mainly concerned.
Immediate White House auction : by tweet, the US President threatens to raise to 30% the rate of customs duty on products already taxed to 25% on 1st October, and to reassess to 15% instead of 10% the duties applicable on the 4th list...
From 3.1% in 2017, the average rate of customs duty applicable on Chinese products could rise to 24.3% by the end of 2019!
* We keep the complete list of customs nomenclatures concerned available to our subscribers on request.
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