China starts work on tax exemptions for some imports from U.S.

Source: Xinhua| 2020-02-18 14:56:44|Editor: huaxia

BEIJING, Feb. 18 (Xinhua) -- More U.S. products have a chance to be exempted from the additional tariffs China imposed in response to the U.S. Section 301 tariff measures, the Customs Tariff Commission of the State Council said Tuesday.

Starting from March 2, China's tax authority will accept applications of domestic firms for the exemption of additional tariffs imposed on some U.S. products within a certain period of time, the commission said in a statement.

The new policy covers a specific list of products and applies to domestic firms who plan to sign deals to purchase and import these products from the United States in a market-oriented and commercial fashion.

Applicants can submit their filings online. Once approved by the authority, they will enjoy exemption of additional tariffs for certain U.S. imports within the approved amount of value and within one year starting from the approval date.

The commission said it will support enterprises' imports from the United States based on business considerations.