China Lowers Tariffs on Imports from U.S.
In response to a recent reduction in the U.S. Section 301 tariffs on imports from China, that country’s Ministry of Finance has announced a reciprocal reduction in its additional tariffs on U.S. goods.
Effective Feb. 14 at 12:01 a.m. EST, China will (a) lower from 10 percent to 5 percent the additional tariff on 916 tariff lines covering fruits, nuts, meats, seafood, and other products (parts 1 and 2 of batch 3, list 1) and (b) lower from 5 percent to 2.5 percent the additional tariffs on 801 tariff lines covering soybeans, oil, plastic products, cosmetics, photographic film, and other products (parts 3 and 4 of batch 3, list 1). These tariffs have been in place since Sept. 1, 2019.
However, there is still a significant number of goods subject to China’s additional tariffs, including the following.
- 128 tariff lines subject to 15 or 25 percent tariffs since April 2, 2018
- 517 tariff lines subject to 25 percent tariff since July 6, 2018
- 217 tariff lines subject to 25 percent tariff since Aug. 23, 2018
- 5,140 tariff lines subject to 5, 10, 20, or 25 percent tariff (tariffs of 5 or 10 percent were imposed Sept. 24, 2018 and adjusted June 1, 2019)
For more information or assistance in developing an effective strategy for mitigating these tariffs, please contact Harry Zhang.