Recently, the Customs Department of the State Council issued a notice of the State Council Customs Tariff Commission's Notice on Adding Tariffs to Certain Imported Commodities Originating in the United States (Third Batch). On August 15, 2019, the US government announced that it would About 300 billion US dollars of goods imported by China are subject to a 10% tariff, which will be implemented in two batches from September 1 and December 15, 2019. The US measures have led to the continuous escalation of Sino-US economic and trade frictions, which have greatly harmed the interests of China, the United States and other countries, and have also seriously threatened the multilateral trading system and the principle of free trade.
There are more than 400 tax items involving chemical and raw materials, and the tax increase is 5%. These include barium sulfate, calcium carbonate, polyacrylamide, black printing inks, titanium dioxide, polyurethane paints and varnishes dispersed or dissolved in non-aqueous media. As the trade friction between China and the United States continues to escalate, from now on, some imported chemical raw materials and other commodities imported from the US will be subject to tariffs. According to industry analysts, the supply of chemical raw materials in the US may decrease in the later period. The price of imported raw materials has an impact, pushing up the prices of some imported raw materials and chemical products. Looking at the current situation, it is also likely to lead other chemical raw materials.