23 Nov 2024

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China starts work on tax exemptions for some imports from U.S.

BEIJING, Feb. 18 (Xinhua) -- More U.S. products have a chance to be exempted from the additional tariffs China imposed in response to the U.S. Section 301 tariff measures, the Customs Tariff Commission of the State Council said Tuesday.

Starting from March 2, China's tax authority will accept applications of domestic firms for the exemption of additional tariffs imposed on some U.S. products within a certain period of time, the commission said in a statement.



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China imposes 5%-10% additional import tax on four US soybean varieties

China will impose an additional 5%-10% import tax on four US-origin soybean varieties from September 1, the Ministry of Finance announced Friday.
 

This retaliatory tax, ranging between 5%-10%, covers a total of 5,078 trade items of US-origin worth $75 billion, including the four soybean varieties, the announcement said.


According to the Chinese ministry, effective September 1, total import duty on US-origin yellow soybean will be 30%, while 35% import tax will be levied on other soy varieties in total, such as green soybean, soybean seed and other soybean.



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