Breaking: China To Adjust Import/Export Tariff On Some Commodities From 1 January 2018

- Dec 18, 2017-

After proposed by Taxation Committee of Tariff of State Council and approved by State Council, China will adjust import/export tariff on some commodities commencing from 1 January 2018, after the announcement for reducing import tax on part of consuming goods from 1 December 2017.

1 In order to better utilize the tax macro control, nickel ingot import temporary tax will be moderately raised, based on supply/demand situation in and out of China.

2 Import temporary tax of scrap magnesia brick, scrap steel slag, scrap ore slag etc. will be revoked, and most-favored-nation rate of duty will be resumed.

3 Steel export of steel, greenite etc will be cancelled, given industry development and export situation change.

4 Export tariff of coal tar, ferro silicon chrome, billet etc will be lowered.

Meanwhile, China will implement conventional tariffs (Agreed Customs Rate) with 26 countries in a bid to promote the construction of nations alongside One Belt One Road and free trade zones.

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