News summary
The United States has raised its 301 tariff on China, and tariffs on aluminum products will increase to 25%. The China Nonferrous Metals Industry Association expressed dissatisfaction and called for the immediate correction and cancellation of the additional tariffs.
Newsletter text
[The Office of the U.S. Trade Representative announced the imposition of additional 301 tariffs on China in the fourth-anniversary review report of the 301 investigation]
According to the announcement of the China Nonferrous Metals Industry Association on May 15, the Office of the United States Trade Representative released it on May 14, U.S. time10handvideopokerThe four-year review report of the 301 investigation was published. According to the report, the United States further increased the tax rate based on the original 301 tariff on China. This tax increase involves aluminum products, and its tariffs will be increased from 7.10handvideopoker.5% increased to 25%. The move was condemned by the World Trade Organization (WTO), which has long ruled that the 301 tariff violated WTO rules. The China Nonferrous Metals Industry Association expressed strong dissatisfaction with this.
China's aluminum industry has always taken as its core goals based on domestic demand and promoting high-quality development of the global aluminum industry chain and supply chain. China is in a global leading position in smelting and processing technology and equipment, comprehensive AC power consumption of electrolytic aluminum, aluminum quality categories and standards, recycled aluminum supply scale, and comprehensive utilization of red mud. Although China's exports of aluminum products to the United States do not account for a high proportion, the trade and cooperation between the industries of the two countries are entirely based on the strong complementarity of the two countries 'industries, fully benefiting from the development needs of enterprises in the downstream industries of the two countries, and fully based on full fairness. The principle of marketization is carried out. This cooperation not only did not cause harm to the United States, but brought benefits to downstream customers. It played a positive role in the development of relevant fields in the United States and the better life of the American people, and effectively promoted the high-quality development of the global aluminum industry.
On behalf of Chinese aluminum companies, the China Nonferrous Metals Industry Association strongly calls on the United States to immediately correct its wrong practices and cancel the measures to impose additional tariffs on China in order to safeguard the multilateral trading system with the WTO as its core.
