China Adds 25% Tariff On Imported American Products To Cotton.

List of tariffs for us and Canada

In April 4, 2018, the US government issued a list of tariffs to be added, which would impose a 25% tariff on the 1333 US $50 billion commodities that I lost to the United States.

The US side violated WTO rules and violated China's legitimate rights and interests, threatening our country.

Interests.

According to the People's Republic of China foreign trade law and the People's Republic of China import and export tariff Ordinance

With the approval of the State Council, the Customs Tariff Commission of the State Council has decided to levy a 25% tariff on 14 categories of 106 commodities originating in the United States, such as soybeans, automobiles and chemicals.

The implementation date will be considered.

The implementation of tariffs imposed by the government on our products will be announced separately by the State Council Tariff Commission.

First, the commodities that impose tariffs are 106 commodities of 14 categories, such as soybeans, automobiles and chemicals.

The scope of taxation is detailed in the schedule.

Two, for the imported commodities originating in the United States, 25% tariffs will be added on the basis of the current tax collection method and the applicable tariff rate, and the existing bonded and tax exemption policy will remain unchanged.

Three. The formula for calculating import taxes after tariff increases:

Customs duty = duty paid price x (applicable tariff rate plus tariff rate).

Ad valorem rate, commodity import link consumption tax = import link consumption tax, tax price * consumption tax proportional tax rate

Compound tax goods import link consumption tax = import link consumption tax, tax price * consumption tax ratio, tax rate + import quantity * consumption tax fixed rate.

Ad valorem rate, commodity import link, consumption tax, taxable price = (customs duty paid tariff + tariff) (1- consumption tax proportional tax rate)

Compound tax goods import link consumption tax taxable price = (customs duty paid price + tariff + import quantity * consumption tax fixed rate) (1- consumption tax proportional tax rate)

Import value-added tax = import value-added tax, taxable price * import link value-added tax rate

Value added tax of import duty = customs duty paid + tariff + import link consumption tax