On June 15, 2018, the U.S. government issued a list of goods subject to tariffs, which will impose a tariff of 25% on about 50 billion U.S. dollars of goods imported from China, of which about US$34 billion will be goods from July 6, 2018. The implementation of tariff escalation measures and the introduction of tariffs on about 16 billion U.S. dollars of goods began to solicit public opinions. The US measure violated the relevant rules of the World Trade Organization and is contrary to the consensus reached in the economic and trade negotiations between China and the United States. It seriously violates the legitimate rights and interests of our country and damages the interests of our country and people.

Pursuant to the laws and regulations of the People's Republic of China Foreign Trade Law, the People's Republic of China Import and Export Tariff Regulations, and the basic principles of international law, the State Council Customs Tariff Commission issued an announcement with the approval of the State Council, deciding that 659 items originating in the United States should be approximately US$50 billion. Imported goods will be subject to a 25% tariff, of which 545 items of about 340 billion U.S. dollars worth of goods such as agricultural products, automobiles, and aquatic products will be imposed with tariffs from July 6, 2018, and the implementation time for additional tariffs on other goods will be announced separately.