China taxes so-called luxury goods, raising costs for foreign businesses

Article Abstract:

China began imposing new customs duties and taxes on so-called imported luxury goods on Jan. 1, 1994, a move which reflects the government's toughening stance towards foreign investors flocking to the country. According to the new policy, certain goods imported by business enterprises and individuals will be subject to customs duties amounting to between 14% and 130% and to a uniform value-added tax of 17%. The new charges, which will cover goods such as television sets and other basic electrical appliances, are expected to further raise the operating costs of foreign companies.

Public Finance Activities, Taxes NEC, Tax Rates, Customs Regulations, Taxation, Laws, regulations and rules, Value-added tax, Tax policy, Customs administration, Tariffs, Luxuries, Luxury taxes

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U.S. exporters say they don't expect immediate gain from China trade pacts

Article Abstract:

US business executives have lauded the recent trade agreements concluded by the Clinton administration with China as a positive development. However, many of them do not agree with US Trade Rep. Mickey Kantor's view that the agreements will result in an immediate improvement in the US trade balance. US exporters, with the possible exception of the fruit sector, are not likely to see near-term results because of existing Chinese requirements and the lack of demand for some US products.

Bilateral Trade Negotiations, Evaluation, Commercial treaties, Trade agreements, Trade negotiations

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U.S. firms hope dispute with China can be solved

Article Abstract:

US companies expressed hope that the Sino-US trade dispute will find a quick resolution. The US Trade Representative's Office imposed 100% tariffs on $2 billion worth of Chinese goods and the Chinese Ministry of Foreign Trade and Economic Cooperation countered with its own sanctions. The trade dispute stems from China's failure to crackdown on consumer product piracy. Many US firms believe that prolonging the trade dispute will not prove beneficial to both nations.

Trade Relations, International aspects, International economic relations, Economic sanctions, Sanctions (International law), Trade policy

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