My Counter Measures Are Issued, And The US $300 Billion Tax List Is Coming.

Tit for tat!

Sino US economic and trade game is heating up.

The United States adopted counteraction against the tax increase measures taken in May 10th. In the evening of Beijing time on May 13th, the CCTV news broadcast was titled "the preparation for China's comprehensive response".

According to the latest news, the office of the United States Trade Representative (USTR) has issued a public announcement today, announcing the launching of the public review process for the $25% export tariff plus 300 billion tariff plan.

This list is complementary to the $200 billion tax increase list implemented in May 10th, including almost all Chinese clothing products exported to the United States and some textiles.

This is the time for Chinese textile makers to test their strength.

Like the international sharp review of CCTV news network, no matter how changeable the external situation is, for China, the most important thing is to do well in our own affairs, constantly deepen reform, open wider to the outside world, and achieve high quality economic development.

The next step for the United States is to talk about whether to fight or to take other actions. China has already prepared its policy toolbox and prepared for a comprehensive response.

One

On May 9th ~10, the eleventh round of Sino US economic and trade consultations took place in the United States.

In May 10th, the US tariff increased to 10% from 200 billion to $25%.

On the evening of May 13th, CCTV news broadcast was titled "the preparation for China's comprehensive response".

This news has been searched in the news and is being painted in the circle of friends of the Chinese people.

Subsequently, the State Council Tariff Commission issued the following announcement:

In May 9, 2019, the US government announced that since May 10, 2019, tariff rates on goods imported from China for 200 billion US dollars have been raised from 10% to 25%.

The US side's measures have led to the escalation of Sino US economic and trade frictions, violating the consensus between China and the United States on resolving trade disputes through consultation and damaging the interests of both sides, which do not meet the general expectations of the international community.

In accordance with the laws and regulations of the People's Republic of China foreign trade law and the People's Republic of China import and export tariff Ordinance and the basic principles of international law, the Customs Tariff Commission of the State Council has decided to increase the tariff rate on some imported commodities originating in the United States since 0 June 1, 2019.

The relevant matters are hereby announced as follows:

(1) to raise the duty rate for some commodities in the State Council Customs Tariff Commission on the announcement of a tariff increase of about $60 billion imported from the United States (8 of the Tax Commission announcement [2018] 8), in accordance with the rates promulgated by the Customs Tariff Commission of the State Council on the announcement of customs duties on imported goods originating in the United States (second batches).

That is: 25% tariff is imposed on 2493 taxable commodities listed in Annex 1; 20% duty is added to 1078 items of commodities listed in Annex 2; 10% duty is added to 974 items of tax goods listed in Annex 3.

A tariff of 5% is added to the 595 items of commodities listed in Annex 4.

Two, other matters shall be implemented according to the Announcement No. 6 [2018] of the Tax Commission.

The annex lists the list of goods with duties of 25%, 20%, 10% and 5% respectively, of which 25% of the tax rate relates to 2493 taxable items. Among 25% and 20% two files, most are agricultural products, chemical raw materials and some daily chemicals.

For example, 25% of the list contains a variety of meat products, vegetables, cotton textiles, perfume, skin care products and so on.

The tax rate of 10% involves 1078 items of tax items.

Textiles and clothing items are included in the list of goods subject to 25%, 20%, 10% and 5% duties.

(attached to the list)

At the same time, the Customs Tariff Commission of the State Council issued a notice. According to the relevant laws and regulations of the Customs Law of the People's Republic of China, the People's Republic of China foreign trade law, the People's Republic of China import and export tariff Ordinance and other relevant laws and regulations, the customs tariff Commission of the State Council has issued a notice after the approval of the State Council.

According to the announcement, the Customs Tariff Commission of the State Council has accepted the application of the relevant stakeholders, and on the basis of examining the applications one by one, excludes some of the eligible commodities from the scope of tariffs imposed by the US and Canada, and formulating the announcement and exclusion list.

Excluding the commodities in the list, we will not levy any additional duties on the 301 measures against the United States within one year from the date of the implementation of the exclusion list. If the conditions of refund are refundable, the customs duties that have been added will be refunded. The relevant importing enterprises shall apply to the customs within 6 months from the date of the publication of the list.

Tariffs on goods that have stopped or have been suspended before the publication of the list is not refunded.

Two

According to CNN, China's Dow Jones index futures dropped by about 2% after China's counter measures were announced.

13, U.S. stocks fell sharply in early trading, while the Dow Jones and the S & P 500 index fell more than 2.5%, and Nasdaq fell more than 3%.

Stocks of some US companies that are heavily dependent on the Chinese market have fallen sharply, such as Caterpillar's shares fell 3.5%, Caterpillar shares fell 4% and Boeing fell more than 3%.

A Boeing spokesman told the media that Boeing is confident that the US and China will continue trade negotiations and reach an agreement beneficial to the US and Chinese manufacturers and consumers.

Beijing time 15 on May 14th, the China Textile Import and Export Chamber of Commerce issued a message: Eastern time in May 13th, the United States Trade Representative Office (USTR) issued a formal announcement, announced the launch of the $300 billion Chinese export products levy 25% tariff plan public appraisal process.

According to this procedure, interested parties may submit written opinions or apply for hearings.

June 10th is the deadline to apply for hearing and submit a summary of the speech. In June 17th, the deadline for submitting written comments is heard. The United States will hold a hearing in June 17th, and the number of hearings is uncertain.

The 7 day after the hearing is the deadline for submitting written comments after the hearing.

According to the analysis of the China Textile Import and Export Chamber of Commerce, the 300 billion US product tax code and the $200 billion product (which began to levy 10% in September 24, 2018 and began to add 25% in May 10, 2019) complementation, including almost all clothing products and some textiles.

In combination with the two list, almost all textile and clothing products exported to the United States were involved (specifically related to the customs tariff number of the Chinese customs), including all kinds of products that I exported to the United States for the largest amount of clothing and accessories (customs code 61 and 62 chapters).

It is worth noting that the 26 product categories excluded from the 200 billion dollar tax list were added to the tax plan.

The China Textile Import and Export Chamber of Commerce said that participating in the US public review process is the only way to exclude products from the tax collection before the implementation of the formal tax measures.

In the $200 billion product tax plan, the chamber of Commerce passed a public review process to successfully help some enterprises to exclude related products.

Although some of the products have been included in the current list, the tax period has been postponed for nearly a year.

Up to now, the US has not yet opened the product exclude channel of $200 billion.

The public review stage before the implementation of the tax plan is crucial to the enterprises that want to be excluded.

It is understood that relevant enterprises, trade organizations and even individuals of China and the United States can apply to participate in the procedure.

According to the experience of the chamber of Commerce, the enterprises can discuss with the importers as soon as possible, and the American importers and purchasers will have better results.

In the comments, whether the import of Chinese products has the possibility of an alternative supply in the United States or third countries, the effect of tariffs on the product or the interests of the United States and whether the product is related to "made in China 2025" or other Chinese industrial plans can be restated.

Three

In May 10th, the United States added 25% tariffs to 200 billion US dollars in China's exports to the United States. The list of textiles involved in textile products, including textile yarn, fabrics, industrial finished products and some household textiles, involved 4 billion US dollars in annual exports.

Insiders said that for the Chinese textile industry with an annual export of about 270000000000 US dollars, less than 2% of US $4 billion accounted for the whole, and the overall impact on China's textile exports was limited.

And if the United States really raises taxes to 300 billion dollars on China's exports to the United States to 25%, it will involve almost all of China's exports of American clothing and some textiles, which share a considerable proportion of the total imports of textiles and clothing in the United States.

The industry believes that such a high degree of market dependence, the United States is difficult to find an alternative source of equal volume, and ultimately will be paid by the American consumers.

In the face of changing circumstances, Chinese textile operators should continue to pay close attention to the current situation and do everything possible to deal with risks. On the other hand, they must set their minds on the long term and do their own things wholeheartedly.

A few days ago, Sun Ruizhe, President of China Textile Industry Federation, attended the international textile machinery 2019 textile machinery Symposium in Milan, Italy, and said that common development is our social responsibility. The development of China's textile industry has promoted the win-win cooperation of the global textile industry.

Sun Ruizhe said that the main challenge facing China's textile industry is due to the trade instability caused by negative political factors, such as Sino US trade frictions. In addition, more and more regional trade protection agreements have emerged worldwide, and the warming of trade protectionism has destroyed economic globalization.

Sun Ruizhe pointed out that China's textile industry should accelerate pformation and upgrading in terms of manufacturing intelligence, diversification of channels and globalization of responsibilities, so as to win the future with high quality development.

The East is not bright, the west is bright.

In recent years, China's textile industry has actively opened up new markets, and has continued to develop international cooperation and opened up a new prospect.

Over the past few years, China's textile industry has cooperated with Burma, Kampuchea, Pakistan, ASEAN and other neighboring countries and regions, and has actively dialogues with Egypt and Ethiopia, introducing China's experience to them for reference, helping to improve the level of economic growth and the level of life and development.

Since the beginning of this year, the China Textile Industry Federation and the China textile international capacity cooperation enterprise alliance delegation have organized visits to many countries and regions such as Israel, Jordan, Tajikistan, Uzbekistan, Romania, Egypt, Vietnam, Indonesia, Laos, Burma and other countries. They have signed a "special agreement of work agreement on" the development of Lanmei textile and garment industry in the area of "one belt and one road", "the cooperation agreement between China Textile Industry Federation and Romania textile clothing shoes, hats and leather products industry association".

China's textile industry is a pillar industry in China's national economy, and has international competitiveness. Textile exports rank first in the world. The main traditional export markets are the United States, the European Union and Japan, accounting for 40%. With the implementation of the "one belt and one way" initiative, the countries along the line have become a new hot spot, accounting for 1/3 of all textile and garment exports in China.

In the first quarter of 2019, China Textile Industry Economic Research Institute pointed out that in 2019, the external situation faced by Chinese textile industry is more and more complex and severe, and the pressure of development has increased.

However, the development trend of China's macro-economy has remained unchanged, and the domestic demand market has continued to upgrade, providing the primary support for the development of the textile industry.

Therefore, it is the most important thing to take the sentence and take the initiative to do well.

Source: Ministry of finance, Ministry of Commerce, China Textiles Import and Export Chamber of Commerce, China textile international productivity cooperation enterprise alliance, people's daily CCTV News World Wide Web