10 January 2008 - #2
Changes to China Tariffs Starting from January 1
Xinhua News reported on December 26, 2007 that, effective January 1, 2008, China's Ministry of Finance will increase export tariffs on some steel products, including steel billet, long and strip steel products and welded tubes and non-alloy steel ingots. The tariffs for billet, steel ingot and pig iron are expected to rise to 25 percent from the current 15 percent, while tariffs for long and strip steel products and welded tubes may increase to 15 percent from current levels.
During the period January 2007 to November 2007, China exported 57.86 million tons of steel products.
Meanwhile, export tariffs ranging from 5 to 25 percent have been introduced for the export of major grain products such as corn, wheat and soybean. According to Customs, China exported 4.9 million tons of corn in the first 11 months of 2007, while the rice export was 1.2 million tons for the same period.
Also effective from January 1, 2008, the import tax on oil product, including gas, diesel and aviation gasoline will be reduced to 1 percent. The current 3 percent import tariff on alumina will also be eliminated.
Expeditors' Newsflash articles are compiled from a number of public sources that, to the best of Expeditors' knowledge, are true and correct. It is our intent to present only accurate information. However, in the event any information contained herein is erroneous, Expeditors International of Washington, Inc. accepts no liability or responsibility. |
files require that you have