On the evening of April 1st, the Ministry of Finance official website issued a message that, with the approval of the State Council, the State Council Tariff Commission decided to suspend tariff reduction obligations for some imported goods originating in the United States, and it was implemented since April 2nd, 2018.
The Ministry of Finance said that in March 8th, 2018, the president of the United States, Trump, signed a announcement that imported steel and aluminum products threatened the national security of the United States and decided to impose tariffs on imported steel and aluminum products (i.e. 232 measures) from March 23rd.
The Ministry of Finance believes that the 232 measure violates the WTO rules, which does not conform to the "safety exception" rule, and actually constitutes a safeguard measure. The measure has been implemented since March 23rd, which has seriously damaged our interests. In order to safeguard our interests and balance the losses caused by the 232 measures of the United States to our country, since April 2nd, 2018, I have suspended tariff concessions on the 7 categories of 128 imported goods originating in the United States, added tariffs on the basis of current applicable tariff rates, and imposed tariff rates on 120 import commodities, such as fruit and products, 15%, and tariff rates on 8 imported goods, such as pork and products. It is 25%. The current bonded and tax relief policy will remain unchanged.
The Ministry of Finance stated that our country advocates and supports the multilateral trading system. The suspension of tariff concessions to the United States is a legitimate measure adopted by our country to use the rules of the World Trade Organization and safeguard our interests.