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China Removed from Tarrif Reduction

     Japan's finance ministry plans to remove five countries, including China and Mexico, from the list of tariff reductions,which granted to developing countries. The Japan believes that these countries' economy keep developing, so the need for assistance has declined. the plan will be implemented since 2019. US President Trump has been calling for the imposition of high tariffs on imports from China and Mexico.
     According to the Japanese economic news website reported on November 18, tariff concessions granted to developing countries is called "preferential tariffs." Japan's Ministry of Finance will announced the adjustment of the system in the meeting of tariff and foreign exchange on November 24.This system is the same as the Japanese government's development assistance and so on, aimed at promoting the economy of developing countries, almost all of the target countries remove chemicals  tariffs (average 3%). Although currently will also achieve a certain economic development of the provisions of the state removed, this will add a new "3 consecutive years of income over a certain amount of export share of the world and more than 1%" of this provision.
     Reported that Japan's "preferential tariff" now including143 countries and regions. Under the new rules, China, Mexico, Brazil, Thailand and Malaysia, the five countries will no longer be included in the applicable object, which will be amended in the near future. Due to "preferential tariff" and reduce the tariff income reached 33 billion yuan. No longer included in the application five object accounted for 30 billion yuan.
     Japanese media said Trump claimed to raise tariffs against China and Mexico in the international community. The wave of protectionism has caused for concern.
     Reported that in China, many Japanese companies have a base. Although the Ministry of Finance in Japan had seted a 2-year transition period before the start of the system adjustment, the Japanese enterprise imports raw materials from China has affected.