China’s Ministry of Finance announced: no tariff increase to counter the U.S. 301 measures involving 79 kinds of goods

The website of the Chinese Ministry of Finance published on Monday a notice issued by the Tariff Commission of the State Council that 79 items of gold ore, rare earth metal ore and other items in the fourth exclusion list of goods subject to tariff increase by China against the United States have been extended by the exclusion period.

China’s State Council Tariff Commission said in the announcement that the second batch of China’s second exclusion list of tariff-raising commodities against the United States will expire on May 18, and decided to extend the exclusion period for the 79 items in question according to the procedure. From May 19 to December 25 this year, the Chinese side continues not to raise tariffs imposed to counteract the U.S. 301 measures.

The Trump administration has been imposing tariffs on Chinese goods since 2018 as a way to sanction the serious imbalance in U.S.-China trade, the theft of intellectual property by China, and to promote the productive capacity of U.S. companies. An analysis of trade data by The Wall Street Journal last week revealed that the imposition of U.S. tariffs on Chinese goods is leading to a sharp decline in imports from China and a major shift in the types of goods imported, with purchases of telecommunications equipment, furniture, clothing and other goods shifting to other countries.