On the evening of March 31, the State Council Tariff Commission decided to suspend tariffs on cars and parts originating in the United States from April 1, 2019. The deadline for suspension of tariff increase measures will be announced separately. According to a spokesman for the Ministry of Commerce, this week, Liu He, a member of the Political Bureau of the CPC Central Committee, the vice premier of the State Council, and the Chinese leader of the China-US Comprehensive Economic Dialogue, will be invited to visit the United States to hold the ninth round of high-level Sino-US economic and trade consultations in Washington.
The Sino-US economic and trade consultations have shown a good signal.
On the evening of March 31, the State Council Tariff Commission decided to suspend tariffs on cars and parts originating in the United States from April 1, 2019. The deadline for suspension of tariff increase measures will be announced separately.
The Customs Tariff Commission of the State Council stated that this is a positive response from the Chinese side to the US measures to delay the tax rate increase and is a practical move taken to promote economic and trade consultations between the two sides. It is hoped that the US and China will work together to step up consultations and make practical efforts to end the goal of trade friction.
According to a spokesman for the Ministry of Commerce, this week, Liu He, a member of the Political Bureau of the CPC Central Committee, the vice premier of the State Council, and the Chinese leader of the China-US Comprehensive Economic Dialogue, will be invited to visit the United States to hold the ninth round of high-level Sino-US economic and trade consultations in Washington.
Second suspension of suspension of tariffs on US autos and parts
In order to implement the consensus of the heads of state of China and the United States, and continue to create a good atmosphere for Sino-US economic and trade consultations, according to the "People's Republic of China Foreign Trade Law", "People's Republic of China Import and Export Tariff Regulations" and other laws and regulations, approved by the Party Central Committee and the State Council The State Council Tariff Commission decided to suspend tariffs on cars and parts originating in the United States from April 1, 2019. The deadline for suspension of tariff increase measures will be announced separately.
On December 14, 2018, the State Council Customs Tariff Commission issued an announcement. From January 1, 2019, the tariffs on cars and parts originating in the United States will be suspended for three months. In March of this year, the US announced that it would impose tariffs on imported goods from China starting from September 2018, and postponed the increase of the tariff rate. The tariff rate will be increased by 10% before further notice.
The Customs Tariff Commission of the State Council stated that the continued suspension of tariffs on automobiles and parts originating in the United States is a positive response of the Chinese side to the US measures to delay the tax rate increase and is a practical move taken to promote economic and trade consultations between the two sides. It is hoped that the US and China will work together to step up consultations and make practical efforts to end the goal of trade friction.
On December 1, 2018, the two heads of state met in Argentina and reached a consensus on "stop adding new tariffs." On March 2, 2019, the Office of the US Trade Representative announced that the import of goods imported from China for the tariffs imposed in September 2018 would not increase the tariff rate and continue to maintain 10% until further notice. In this regard, the relevant person in charge of the Customs Tariff Commission of the State Council said that it welcomes the measures taken by the US.
Sino-US economic and trade team will welcome the ninth round of consultations
From March 28th to 29th, Liu He, member of the Political Bureau of the CPC Central Committee, vice premier of the State Council, and Chinese leader of the China-US Comprehensive Economic Dialogue, and US Trade Representative Wright Heze and Finance Minister Mnuchin co-chaired the eighth round of China and the United States in Beijing. During the high-level economic and trade consultations, the two sides discussed the relevant texts of the agreement and made new progress.
This is the first time since the US side postponed the plan to impose tariffs on Chinese goods of 200 billion U.S. dollars since March 2. U.S. Treasury Secretary Steven Mnuchin and trade representative Robert Wright Heze met for the first time in Beijing.
There is not much disclosure in the official content of the text. In the previous round of consultations, the official news release covered more content, and negotiated on the text of the agreement, in terms of technology transfer, intellectual property protection, non-tariff barriers, services, agriculture, exchange rates, financial services, trade balance, etc. Substantial progress has been made on specific issues.
According to the arrangement, the ninth round of China-US high-level economic and trade consultations was held this week. Liu He was invited to visit the United States to hold the ninth round of high-level Sino-US economic and trade consultations in Washington.
Premier Li Keqiang said in Boao that China and the United States are the world's largest developing countries and developed countries respectively. The two countries have achieved fruitful results since the establishment of diplomatic ties 40 years ago, not only bringing great benefits to the two peoples, but also for world peace and stability. Development has made an important contribution. At present, while maintaining overall stability, Sino-US relations have indeed encountered some contradictions.
"At this time, we must show the world that the development of Sino-US relations should be stable and healthy." Li Keqiang said, "If trust declines, we should try our best to improve trust and resolutely prevent the 'trust deficit' from happening. Otherwise, Sino-US relations have caused incalculable harm."
Li Keqiang said that according to the consensus reached by the two heads of state, the economic and trade teams of the two sides have conducted several rounds of consultations and are making positive progress. As long as the two sides adhere to the principle of mutual respect, equality and mutual benefit, they will achieve positive results. This is not only in the interests of the two peoples, but also the common expectation of all countries in the world.
"Chinese people often say that '40 is not confused'. The 40 years since the establishment of diplomatic relations between China and the United States have reached a mature year. Once an agreement is reached, both sides should strictly implement it, so that the results of the consultations can be implemented and the Sino-US relations can continue to move forward." Li Keqiang said .
Intensive consultations, releasing positive signals
Since the beginning of this year, the Sino-US economic and trade team has conducted intensive consultations, basically all around the relevant texts of the agreement. Up to now, eight rounds of consultations have been held.
From January 7th to 9th, China and the United States held consultations at the vice-ministerial level on economic and trade issues in Beijing. The two sides actively implemented the important consensus of the two heads of state and conducted extensive, in-depth and meticulous exchanges on trade issues and structural issues of common concern, which enhanced mutual understanding and laid the foundation for resolving mutual concerns. Both parties agreed to continue to maintain close contact.
From January 30th to 31st, Liu He led the Chinese team to hold economic and trade consultations with the US team led by Wright Heze. Under the guidance of the important consensus reached by the two heads of state in Argentina, the two sides discussed trade balance, technology transfer, intellectual property protection, non-tariff barriers, services, agriculture, implementation mechanisms and Chinese concerns. The leaders of the two sides focused on frank, concrete and constructive discussions on issues of trade balance, technology transfer, intellectual property protection, implementation mechanisms, and issues of concern to China, and made important progress.
From February 14 to 15, Liu He and Wright Heze and Finance Minister Mnuchin held a sixth round of high-level Sino-US economic and trade consultations in Beijing. The two sides conscientiously implemented the consensus of the two heads of state in Argentina, on technology transfer, intellectual property protection, Non-tariff barriers, service industries, agriculture, trade balance, implementation mechanisms and other issues of common concern and China's concerns have been thoroughly exchanged. The two sides reached a principled consensus on the main issues and conducted specific consultations on the bilateral economic and trade memorandum of understanding. The two sides stated that they will work hard to reach an agreement based on the consultation period determined by the two heads of state.
The seventh round of China-US high-level economic and trade consultations started on February 21. China has repeatedly expressed its position that Sino-US economic and trade cooperation is mutually beneficial and win-win. Sino-US economic and trade relations are not only important to China and the United States, but also very important to the development of the global economy and trade. China and the United States and the two interests, fighting is hurt. Both sides have a positive desire to implement the important consensus reached by the leaders of the two countries and promote relevant consultations.
From March 28th to 29th, Liu He, member of the Political Bureau of the CPC Central Committee, vice premier of the State Council, and Chinese leader of the China-US Comprehensive Economic Dialogue, and US Trade Representative Wright Heze and Finance Minister Mnuchin co-chaired the eighth round of China and the United States in Beijing. High-level economic and trade consultations,
In the 40 years since the establishment of diplomatic relations between China and the United States, the common interests in the economic and trade field have far exceeded differences. In 2018, the trade in goods between China and the United States exceeded $630 billion, and the two-way investment totaled more than $240 billion. Sino-US economic and trade cooperation has formed a pattern in which you have me, I have you, and the interests of the two countries have brought tangible benefits to the two countries and the two peoples, and also provided a strong impetus for the development of the world economy. The continuous deepening and development of economic and trade cooperation between China and the United States is the choice of the market and the choice of enterprises.
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