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China increases duty drawback rates in response to Donald Trump tariff imposition

The Chinese government has announced new policies to reduce the influences of the U.S. tariffs on Chinese exporters. One of them is to raise duty drawback rates for the made-in-China exported products. The policy will become effective on November 1st, 2018.

The Ministry of Finance of China has issued the tax policy to increase duty drawback rates to 16 percent for all of the lights and related lighting products. According to the official announcement, the goal of the revision is to optimize export tax policy and to respond to the complexity of the international market. For the automotive LED lights, its duty drawback rate will keep 17% as before.

On September 24th, 10 percent tariffs on US$ 200 billion worth of made-in-China goods have been imposed and LED lights are included in the product list. The tariffs will jump to 25 percent by the end of 2018. In order to offset the hits of tariffs on Chinese companies, China has continued to increase duty drawback rates for some other products until now, and maybe later on depending on the process of trade war.

Who finally suffer from US-China trade war
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