Since the Chinese and US heads of state stopped their talks on December 1, new good news came again! According to Agence France-Presse reported on the 16th, after Beijing announced the suspension of tariffs on US-made cars three months before the end of the year, Washington also decided to postpone the punitive tariffs on 200 billion US dollars of Chinese goods.
The 200 billion commodity tariff will be postponed until March 2, 2019.
It is reported that the US Trade Representative Office officially changed the tariff on China’s $200 billion product from 10% to 25% in the Federal Register on the 14th to change to 12:01 on March 2, 2019.
According to the report, the world is now paying attention to the trade negotiations between Washington and Beijing. It is hoped that the 90-day tariff truce will continue and the two sides can end this trade war. Kohlwen, vice chairman of the US Foreign Trade Committee, said that although it is impossible to solve every problem with China within 90 days, he hopes that “(negotiation) progress can be institutionalized” and “the two sides need to find a way to achieve a win-win situation.”
China will suspend tariffs on cars and parts originating in the United States
On December 14, during the G20 Leaders’ Buenos Aires Summit, the heads of state of China and the United States met and reached a consensus. According to the Foreign Trade Law of the People’s Republic of China, the Import and Export Tariff of the People’s Republic of China The laws and regulations such as the Regulations and the basic principles of international law, with the approval of the State Administration and the State Council, the State Administration of Taxation Committee decided to suspend tariffs on automobiles and parts originating in the United States from January 1, 2019. Months, involving 211 projects.
According to relevant data, in 2017, China imported 1,246,800 vehicles, a year-on-year increase of 15.77%, and the total value of imported vehicles was US$51.03 billion, a year-on-year increase of 13.54%. Among them, the import of American cars is about 280,000, worth about 10.5 billion US dollars, plus 2.3 billion US dollars of parts and components imports, the proportion of American cars in imported cars is about 21%.
Therefore, the Chinese market is very important for the US automotive industry. After China lowered tariffs on US cars, the United States also announced a postponement of a $200 billion tariff plan.
This news is undoubtedly good news, for the B2B import and export foreign trade industry a great buffer time, but the impact on the B2C industry will not be great, early, trade wartime, the industry’s media and experts have already reached a conclusion The Sino-US trade war and the end of the trade war have only added to the B2C industry in terms of tariffs and customs clearance.
The industry believes that the worst era of Sino-US trade wars has passed, this is the general direction, but the negotiation process has a long way to go. From a business perspective, even if the tariffs are likely to decline in the future, it will not be completed overnight. The state subsidies to enterprises are not indefinite, and improving their comprehensive capabilities and competitiveness is the top priority.