The new rates will be effective from Sept. 15, China’s finance ministry said in a statement on its website Friday. Beijing: With President Donald Trump poised to hit China with tariffs on another $200 billion goods within days or even hours, China has announced measures to support some of the exporters targeted. Bloomberg identified those by comparing the products on the VAT list to items on the lists of goods hit by higher tariffs. At least another 67 items getting a VAT rebate may been soon hit by the next round of U.S. tariffs. There may be other products getting tax rebates which are a target for higher tariffs, but aren’t included in the above tally.

Source: Mint September 07, 2018 15:33 UTC