On May 9, 2019, the U.S. government announced that, starting May 10, 2019, the tariff rate on goods imported from China with a list of $200 billion increased from 10% to 25%. The above measures led to the escalation of Sino-US economic and trade frictions, violated the consensus of the two sides to resolve their trade differences through consultation, harmed the interests of both sides, and did not meet the general expectations of the international community. In order to safeguard the multilateral trading system and safeguard its legitimate rights and interests, China has to impose tariffs on some imports originating in the United States.
In accordance with the laws, regulations and basic principles of international law, such as the Foreign Trade Law of the People's Republic of China, the Import and Export Tariff Regulations of the People's Republic of China, and with the approval of the Central Committee of the Party and the State Council, the Tariff Principles Committee of the State Council has decided to raise the tariff rate on the part of the US merchandise in the list of US $60 billion that has been imposed tariffs since 10:00 on June 1, 2019 Tariffs are imposed on 25%, 20% or 10%. Tariffs on items previously subject to a 5% tariff will continue to be imposed.
China's adjustment of tariff increases is a response to US unilateralism and trade protectionism. China hopes that the United States will return to the right track of bilateral economic and trade negotiations, and work with China to move in opposite directions, so as to reach a mutually beneficial and win-win agreement on the basis of mutual respect.