The China Tariff Committee announced  on February 18 that domestic importers could start to apply for a one-year exemption period for the additional tariff imposed as retaliation for the Section 301 from March 2nd, cotton and cotton yarn are included.

The government will review the application in 3 working days, which means importers could enjoy the exemption as soon as March 6th, including those cargos currently in local warehouses in bonded zones.

Importers are asked to provide their annual purchase plan (targeted purchase value). If the application is granted, the approved purchase could enjoy exemption, while those purchases exceeding the approved amount will be subject to additional tariffs.