YuYuanTanTian: Which tariffs imposed by the United States on China have been suspended?
Since February of last year, the tariffs imposed by the United States on China under the International Emergency Economic Powers Act mainly include a 10% "fentanyl tariff" and "reciprocal tariffs" of 10% and 24%. The U.S. executive order states that these tariffs will be "terminated as soon as possible." The ruling by the U.S. Supreme Court means that the relevant IEEPA tariffs will be automatically canceled. Experts indicate that if the U.S. stops or lowers the tariff rates, China may assess and adjust its measures, but if new tariffs are continued to be imposed, China will also consider corresponding countermeasures
Yu Yuantan stated that since February of last year, the new tariffs imposed by the United States on China under the International Emergency Economic Powers Act (IEEPA) mainly consist of two parts. One is the so-called "fentanyl tariff," which currently has a rate of 10% on China; the other is the so-called "reciprocal tariff," which currently applies a 10% rate on China, while the remaining 24% rate is deferred. According to the U.S. executive order, these tariffs implemented under the IEEPA will be "terminated as soon as possible." After the U.S. Supreme Court's ruling, it means that the administrative order to cancel the IEEPA tariffs issued based on the Supreme Court's decision will also apply to the relevant parts of the China-U.S. tariff arrangements, and the IEEPA tariffs on China should be automatically canceled. Cui Fan, who is familiar with international trade negotiations, stated that if the U.S. stops the relevant measures or lowers the tariff rates, China does not rule out the possibility of assessing and adjusting based on actual changes; however, if the U.S. continues to impose new tariffs using other legal tools, China will also evaluate whether to take corresponding measures.
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