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Chinese authorities will give businesses $10 billion tax rebates through US customs duties

on Tue Jul 24, 2018 6:00 pm
The Chinese government has decided to support the business through uncertainty and the risk of losses from trade warfare from the United States.

This is reported by Sichuan.

In particular, the State Council of China has proposed to provide business tax rebates, the total cost of which will be about $10 billion. In addition, the Chinese authorities will provide companies with credit guarantees totaling $21 billion.

On July 11, it became known that Donald Ramp is preparing to introduce a  further portion of customs duties on imports of  Chinese goods at a rate of 10%. The customs duties will apply to goods, the total cost of which is $200 billion.

Subsequently, Trump stated that he plans to impose duties on  all imports from China, the cost of which is half a trillion dollars.

On July 6, the Chinese authorities put in place a decision to  impose customs duties on US $34 billion in US imports a few hours after the $34 billion customs duty imposed on the Chinese goods came into force in the United States.

On July 17, it became known that the EU and Japan signed an agreement on the creation of the  largest free trade area  in the world in response to the customs policy of the administration of the United States, Donald Trump.

Recall that on June 20, the European Commission finally  approved customs duties on American  imports in response to US customs duties on steel and aluminum. In particular, new tariff restrictions would apply to US goods worth a total of $2.8 billion.

On June 14, the European Union unanimously  supported the introduction of US customs duties  as a response to America's imposed steel and aluminum duties. After that, a decision by the European Commission was required.

June 22, Donald Trump  wrote on Twitter , considering the possibility of imposing duties on European cars in the amount of 20%. The EU has been informed that they are prepared to take a  similar step in response .

On June 21, it became known that India  and  Turkey introduced customs duties on US goods.

Donald Trump  introduced import duties  on steel (25%) and aluminum (10%). The orders signed by the president came into force on March 23. Mexico, Canada and the EU were temporarily excluded from the list of countries.

On May 31, Trump  canceled temporary exceptions  for steel and aluminum from the EU, Canada, and Mexico. The EU has been told to  introduce countermeasures .

The European Union and Canada were preparing to address the issue of the introduction of US customs duties on steel and aluminum through the mechanisms of the World Trade Organization. In particular, countries have already  sent their complaints there .

In early June, it became known that the European Union announced plans to  introduce additional duties of $2.8 billion of American goods in response to Washington's decision to introduce tariffs for European steel and aluminum.

hromadske.ua    In Ukrainian/український
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