China tariff rollbacks to cover key polymers, chemicals

China’s planned rollback of tariffs on certain imports from the US starting on 14 February will impact a number of key polymers and chemicals. China will roll back the 5-10% tariffs imposed on $75bn of US imports in the 4th round of tariffs in the US-China trade war by half to 2.5-5%. Those “part one” tariffs in the 4th round were implemented on 1 September 2019, before the phase one US-China trade deal signed on 15 January. Part two of the 4th round of tariffs never went into effect because of the deal.
For US commodity polymers and chemicals, China’s latest round of tariffs added 5% on top of existing tariff levels of 25% in most cases, bringing the total from the US-China trade war to 30%,.