Sino-US trade war restarts Trump threatens to tax Chinese 200 billion goods
"China paint online news information]
April 4, 2018, the U.S. government issued a list of goods subject to additional tariffs, which will impose a 25% tariff on 1333 items of $50 billion goods exported to the United States.
On June 15, 2018, in accordance with the the People's Republic of China Foreign Trade Law, the the People's Republic of China Import and Export Tariff Regulations and other laws and regulations and the basic principles of international law, with the approval of the State Council, the Tariff Commission of the State Council issued an announcement and decided to impose a 25% tariff on 659 items originating in the United States. Imports of about US $50 billion will impose tariffs on 545 items of about US $34 billion including agricultural products, automobiles, and aquatic products from July 6, 2018.
China's chemical products, although the United States is one of the source countries of imports, it is not the most important source country. And our dependence on exports to the United States is gradually weakening. Chinese companies have taken root in the United States and have completed their global layout. The pressure brought by trade frictions may not have a huge impact on these companies.
The list of commodities subject to tariffs on the United States and Canada shows that tar-made asphalt, tar-made asphalt coke, naphtha, rubber solvent oil, paint solvent oil, extracted solvent oil, petroleum asphalt, natural asphalt (bitumen), emulsified asphalt, other carrier catalysts, other reaction initiators, reaction accelerators, catalysts, other ethylene polymers in primary shapes, other acrylic polymers in primary shapes, and other polyether in primary shapes, chemicals such as epoxy resins in primary form, polycarbonates in primary form, other polyesters, aromatic polyamides and copolymers thereof are involved therein.
chemicals, ethanol is also affected. Nowadays, the use of ethanol gasoline is in full swing in China, and the demand for ethanol is also increasing. On the afternoon of June 11, Tianjin government affairs network announced the implementation plan of promoting the use of ethanol gasoline for vehicles in Tianjin. The plan requires the orderly promotion of the use of ethanol gasoline for vehicles, which will be promoted before August 31, 2018, and the closed operation of the whole city will be realized on September 30. In addition to the special needs of the army, national and special reserves, and industrial production oil, the whole city will basically realize the replacement of ordinary gasoline with ethanol gasoline for vehicles. If you want to close the use of ethanol gasoline nationwide before 2020, imported modified ethanol is essential. At present, the United States is the largest importer of modified ethanol in China. The increase in tariffs has reduced imports and will also hinder the implementation of ethanol gasoline.
However, after many consultations in China and the United States, Trump suddenly changed his face., US President Trump threatened to impose a 10% tariff on $200 billion of Chinese goods, which would intensify the trade war between China and the United States. Trump said he had asked the U.S. Trade Representative to determine that Chinese products would be subject to the new tariffs in retaliation for China's increase in tariffs on U.S. goods of $50 billion. He said, "After the legal process is completed, if China refuses to change its practices and insists on introducing the recently announced new tariffs, these tariffs will take effect."
to Trump's move, a spokesman for the Ministry of Commerce said on June 19:
the United States, after introducing a $50 billion tax list, has intensified its efforts and threatened to draw up a $200 billion tax list. This practice of extreme pressure and blackmail deviates from the consensus reached by the two sides on many occasions and has also disappointed the international community. If the US side loses its rationality and issues a list, China will have to take comprehensive measures that combine quantity and quality to make strong countermeasures.
the US initiated a trade war, it violates the laws of the market, does not conform to the development trend of the world today, harms the interests of the people and enterprises of China and the United States, and harms the interests of people all over the world. China's response is not only to safeguard and defend the interests of the country and the people, but also to safeguard and defend the free trade system and the common interests of mankind. No matter how the external environment changes, China will adhere to the established rhythm, adhere to the people as the center, firmly promote reform and opening up, firmly promote high-quality economic development, and accelerate the construction of a modern economic system.
understood that the Sino-US trade war has caused the stock prices of major domestic chemical companies to fall today. If this 200 billion-dollar commodity tariff becomes a foregone conclusion, it will definitely cause turbulence in my country's chemical industry.
