China-US trade war escalated!

China-US trade war escalated!

China-US trade war escalated!

On 5th,May,Trump suddenly had several twitter announced that USD325 billion dollards of additional goods sent to US by China will have 25% import tariff.

China-US trade war escalated!

Just now, the Chinese Ministry of Commerce spokesperson said at 12:03 (May 10) that the US officially implemented tariff increases. The US has raised the tariff of 200 billion US dollars on Chinese exports to the US from 10% to 25%, the Chinese side deeply regrets that they will have to take necessary countermeasures.

The eleventh round of China-US high-level economic and trade consultations is underway. It is hoped that the US and the Chinese side will work together and work together to resolve existing problems through cooperation and consultation.
It is reported that the US Customs and Border Administration (CBP) has officially issued a statement this morning, “will increase the tariff from 10% to 25 for the third batch of more than 200 billion US dollars of Chinese goods at 0:00 on May 10. %!”
What deserves everyone’s attention is that according to CBP’s statement, as long as it is exported from China before May 10, even if the goods have not arrived destination port, they can still be levied at a rate of 10%! It is strongly recommended that all foreign trade freight forwarders verify the operation details with the US consignee as soon as possible! Avoid delays in goods and some unnecessary expenses!

What’s included in the 200 billion list?
The $200 billion list of goods can be traced back to the 195-page list issued by the US Trade Representative Office as early as July 10, 2018.

China-US trade war escalated!

This list covers 6031 products, accounting for 38%-46% of China’s total exports to the United States in 2017, including high-end manufacturing industries such as semiconductors, chemicals, pharmaceuticals, electrical equipment, and low-end manufacturing industries such as wood products. And consumer goods such as food and furniture.

According to the threat of Washington, the United States will eventually impose a 25% tariff on nearly $600 billion of all Chinese exports to the United States. In the actual situation, this certainly cannot be done. And even if some products add taxes, it does not mean that they cannot be sold to the United States. If half of the goods cannot be exported to the United States, this estimate is already very high.

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