Friday, August 19, 2022

China trade update: Beijing to begins accepting duty-free applications on US imports next week


Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

China trade update: Beijing announced that it will begin accepting requests for exemption from the implementation of the second round of additional tariffs on US imports starting from the second of next month.

Companies, business associations or chambers of commerce in China will be able to submit applications for duty-free products electronically from Sept. 2 to Oct. 18, the State Customs Committee (Cabinet) said in a statement on China trade update Tuesday.

The committee added that it would exempt certain products from additional tariffs and provide temporary tariff exemptions from the added duties upon requests from the parties concerned.

China’s second round of surcharges on US products worth 60 billion dollars came into effect on Sept. 24 last year after the United States began imposing 10 percent additional tariffs on Chinese products worth 200 billion dollars on the same day.

As per the China trade update, the first batch of requests for exemption were accepted from June 3 to July 5.

Read also: Trump increases punitive tariffs on imports from China

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