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Does Trump impose tariffs on Chinese imports or affect the export of plant extracts?

Views: 7     Author: Ellie     Publish Time: 2019-07-19      Origin: Site

On May 17, according to US President Trump's instructions, the US Trade Representative proposed to amend the actions of this Section 301 on the Chinese government's actions, policies and practices in technology transfer, intellectual property and innovation. The proposed changes will take further action to impose an ad valorem tax of up to 25% on China's annual trade volume of approximately $300 billion. Products subject to revision are listed in the subheading of the Harmonized Tariff Schedule as contained in the annex to their notice. The US Trade Representative Office (USTR), in consultation with the public, sought public comments on this proposed change.


The US Trade Representative Office (USTR) is from June 17 to June 21, 2019, and the following week, June 24 to June 25, 2019 at the US International Trade Commission, 500 E Street SW, Washington DC 20436 held a public hearing to discuss proposed tariffs on Chinese products valued at approximately $300 billion.


Will the foreign trade plant extract industry be affected?

In the subheading of the Harmonized Tariff Schedule contained in the annex to the circular listed in the hearing, the export of plant extracts mainly involved two types of customs codes 1302 and 2932 (with related products in the drawing);




It can be seen from the above table that there are not many commodities related to plant extracts, so the impact on the planting industry is relatively small. However, in response to the US actions, our representative said at the hearing that the China International Chamber of Commerce on behalf of 180,000 members of all walks of life in China opposed USTR to impose additional tariffs on Chinese products worth US$300 billion. Additional tariffs would hurt. The interests of companies, employees and consumers in the United States. According to a research report from a US think tank, the addition of tariffs will result in a new 2.16 million unemployed population in the United States and an annual average of $2,294 for a family of four.


Our representative emphasized that the Chinese government has taken a series of measures to strengthen institutional and structural arrangements and promote a higher level of opening up to the outside world, including expanding access to foreign markets in a broader field, and strengthening intellectual property protection and greater scale. Import goods and services, more effectively implement international macroeconomic policy coordination, and pay more attention to the implementation of the opening up policy. In response to the current differences between China and the United States on economic and trade issues, the China International Chamber of Commerce calls on the two governments to solve problems through equal dialogue. The key is to take care of each other's legitimate concerns and promote coordination, cooperation and stability on the basis of mutual respect and mutual benefit. Sino-US relations based on the tone.

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