China to hike tariffs on 106 US products, including chemicals

04 April 2018 11:12 Source:ICIS News

SINGAPORE (ICIS)--China has decided to increase tariffs on 106 products originated from US by 25%, with the chemicals sector one of the key targets of the measures  according to a statement from China’s Ministry of Finance on Wednesday.

Source: Xinhua News Agency/REX/ShutterstockThe counter-measure from China side covers soybean, cars and chemicals worth some $48bn of US imports. The implementation date will be announced separately, depending on US measures against China, according to the Chinese Ministry.

The China list has 44 industrial and chemical raw materials, including butane, polycarbonate, epoxy, acrylonitrile and others. (see table below)

The US on Tuesday released a proposed list of products imported from China that could face 25% additional tariffs, covering 1,333 products valuing some $50bn in aerospace, information and communication technology, robotics and machinery. The Chinese Ministry said that such move is wholly against WTO trade principles and values, and infringes China’s legitimate rights, threatening China’s development interests.

Earlier today, China’s Ministry of Commerce said that China would retaliate US tariff decision with the same intensity and scale.

The escalating friction between the two biggest economies is expected to boost prices of a range of products beyond those in the lists, industry sources said.

HS code product description
27111200 Liquid propane
39074000 Primary shape polycarbonate
38151200 Supported catalysts with noble metals and their compounds as actives
38220010 Diagnostic or experimental reagents attached to the backing, except those under tarriff code of 32.02,32.06
38249999 Other chemicals and chemical products that are not listed in other tariff codes
38248700 products listed in Note 3 of this Chapter's sub-chapter containing perfluorooctane sulfonic acid and its salts, perfluorooctyl sulfonamide or perfluorooctane sulfonyl chloride
38248800 products listed in Note 3 of this Chapter containing four, five, six, seven or octabromodiphenyl ethers
38248500 Contains 1,2,3,4,5,6-HCH (6,6,6) (ISO), including lindane (ISO, INN)
38249100 Mainly from dimethyl (5-ethyl-2-methyl-2oxo-1,3,2-dioxaphosphorin-5-yl)methylphosphonate and double [(5-ethyl- Mixtures and products of 2-methyl-2oxo-1,3,2-dioxaphosphorin-5-yl)methyl]methylphosphonate (FRC-1)
38248600 products listed in Note 3 of this Chapter containing PeCB (ISO) or Hexachlorobenzene (ISO)
38248400 Contains aldrin (ISO), toxaphene (ISO), chlordane (ISO), chlordecone (ISO), DDT (ISO) [Diptrix (INN), 1,1,1-trichloro-2,2 - Bis(4-chlorophenyl)ethane], Dieldrin (ISO, INN), Endosulfan (ISO), Endrin (ISO), Heptachlor (ISO), or Mirex (ISO), products listed in Note 3 of this Chapter
38151900 Other carrier catalysts
39079999 Other polyester
38159000 Other unrepresented reaction initiators, accelerators
39011000 Polyethylene with a primary shape specific gravity < 0.94
29261000 Acrylonitrile
34039900 Lubricants (exclude petroleum or oil extracted from bituminous minerals)
38220090 Whether or not attached to a diagnostic or experimental formulation reagent on the backing, except items under tariff code 32.02,32.06
38112900 Lubricating oil additive without oil or oil extracted from bituminous minerals
39073000 Primary shape epoxy
39206200 Polyethylene terephthalate sheet foil flat strip
39199090 Other self-adhesive plastic plates, sheets, films and other materials
39209990 Other plastic non-foam plastic sheets
39269090 Other plastic products
39019090 Other primary shape ethylene polymers
39014090 Other ethylene-α-olefin copolymers, specific gravity less than 0.94
39069090 Other primary shape acrylic polymers
39041090 Other primary shapes of pure polyvinyl chloride
39100000 Primary polysiloxane
39119000 Other primary polysulfides, polysulfones, and other new products not specified in other code in Note 3 to Chapter 39
39219090 Unlisted Plastic Plates, Sheets, Films, Foil and Strips
29031500 1,2-dichloroethane (ISO)
40023990 Halogenated butyl rubber sheet, sheet, tape
29349990 Other heterocyclic compounds
35069190 Adhesives based on other rubber or plastics
39081011 Polyamide-6,6 slices
39072090 Other primary-shaped polyethers
39121100 Primary-shaped, unplasticized cellulose acetate
39089010 Aromatic polyamides and their copolymers
39089020 Semi-aromatic polyamides and their copolymers
39089090 Primary polyamides of other shapes
39201090 Other vinyl polymer plates, sheets, tapes
34021300 Non-ionic organic surfactants
34031900 Lubricants (containing oil or oil extracted from bituminous minerals and <70% by weight)

Pictured: An investor at a stock market in Hangzhou, Zhejiang Province (Source: Xinhua News Agency/REX/Shutterstock)
ICN

By Fanny Zhang