China's Taxation on us commodities and energy

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      China and the United States have reached a consensus on the terms of the "first stage" trade agreement. The United States will reduce some tariffs, and China has cancelled the retaliatory tariffs originally scheduled to take effect on December 15.
Prior to the December 15 agreement, the U.S. corn, sorghum, wheat, denatured ethanol, and refined copper cathodes had faced an additional 10% import tariff from China. Propane, cotton, aluminum waste, copper waste and rare earth magnets are expected to receive an additional 5% tariff.
The following is the schedule of China's taxes on major U.S. commodities and energy projects after the first phase of the agreement.
* * crude oil * * *
China has imposed a 5% import tariff on U.S. crude oil since September 1, the first time U.S. oil has become a tax target since the Sino-U.S. trade war began more than a year ago. This 5% tariff is not affected by the first phase agreement.
China is the world's largest crude oil importer, and crude oil imports from the United States have fallen sharply since last year's record high. According to China's customs data, US crude oil imports in the first 10 months of this year cut to 146275 barrels / day compared with the same period last year.


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