China on Wednesday announced it will soon start accepting applications for exemption from its second-round of additional tariffs on U.S. imports.
Enterprises, business associations or chambers of commerce in China can file product exclusion applications online starting September 2 until October 18, according to the Customs Tariff Commission of the State Council.
Three factors will be taken into consideration when deciding if a product is worthy of tariff exemption: difficulties in seeking substitutes, severe economic damage caused by the additional tariffs, and the serious negative structural effects on the relevant industry.
The commission will exempt certain products from the additional tariffs, and offer temporary tariff exemptions or refunds of added duties. Firms in China that import, produce, or use relevant products or the industrial associations of such firms are eligible to apply for tariff exemption.
China's second round of additional tariffs on U.S. products worth 60 billion U.S. dollars took effect on September 24 last year after the United States started imposing additional 10-percent tariffs on 200 billion U.S. dollars worth of Chinese products the same day.
The commission will also launch the exemption process for the third round of additional tariffs on U.S. imports worth 75 billion U.S. dollars.
The first-round of exclusion applications ended on July 5, and the second-round will start on September 2 and will end on October 18.
(With input from Xinhua.)
Copyright © 2018 CGTN. Beijing ICP prepared NO.16065310-3
Copyright © 2018 CGTN. Beijing ICP prepared NO.16065310-3