China’s Tariff Commission this week announced new customs tariffs will be imposed on $60 billion worth of imports from the United States, beginning 24 September 2018.
The new additional customs tariffs and lists of affected U.S. imports are provided in Announcement No. 8 (Chinese language only).
This action by China’s government followed a notice earlier this week from the U.S. Trade Representative that approximately $200 billion worth of Chinese imports will be subject to additional tariffs, with the initial imposition of the additional tariff at a rate of 10% (effective starting 24 September 2018). Read TradeNewsFlash
China had previously announced that additional customs duty tariffs—at rates of 5%, 10%, 20% and 25%—would be imposed on numerous products imported into China from the United States. Read TradeNewsFlash
With this week’s issuance of Announcement No. 8, China’s Tariff Commission provided a detailed list of U.S. imports and products subject to the new additional customs tariffs.
For the time being, the policy and interpretation of import tax collection has not been changed with the most recently released announcement.
For more information, contact a KPMG trade and customs professional in China:
Rachel Tao | +86 21 2212 3473 | email@example.com
Or to learn more about KPMG’s Trade & Customs Services, contact:
John L. McLoughlin
Luis (Lou) Abad
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.