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Weigh! China Has Adjusted Import Tariffs On Some Commodities Since January 1, 2020.

2019/12/23 11:16:00 1

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Import Tariff Adjustment

In order to implement the spirit of the nineteen and nineteen second, third, fourth and plenary sessions of the party and the spirit of the central economic work conference, and promote the development of high quality trade, the Customs Tariff Commission of the State Council recently issued a notice that the import tariff of some commodities should be adjusted from January 1, 2020.

In order to actively expand imports, stimulate import potential and optimize import structure, China will impose a provisional tariff rate of less than the most favored nation tax rate for more than 850 commodities since January 1, 2020. In order to better meet the needs of people's lives, we should appropriately increase imports of domestic consumer goods, which are relatively scarce or with foreign characteristics, or increase or decrease. Frozen pork, frozen avocado, non frozen orange juice Provisional tariff rates for commodity imports; In order to reduce the cost of drugs and promote the production of new drugs, Zero duty on alkaloid drugs for asthma treatment and raw materials for the production of new diabetes treatment drugs ; To expand the import of advanced technology, equipment and parts, and support the development of new and high technology industries. Semiconductor detection and sorting belt machine, high pressure turbine clearance control valve, torque converter and aluminum valve core for automatic transmission, Nb, multi-component integrated circuit memory, large shaft film raw material, dispersions and media for photoresist. Provisional tariff rates for commodity imports; In order to encourage imports of resource products with domestic demand, new or lower imports are added. Import of some wood and paper products Provisional rates.

In order to promote the coordinated development of trade and environment, according to the State Council's comprehensive prohibition of importing the spirit of solid waste which is harmful to the environment and strongly reflecting the masses, it is in line with the adjustment time of import waste management catalogue. Since January 1, 2020, Abolish the provisional tariff rate for the import of 2 kinds of commodities: tungsten scrap and niobium waste, and restore the MFN rate.

In order to promote the construction of the "one belt and one way" high quality development, build a global high standard free trade area network and implement a mutually beneficial and open strategy, according to our FTA or preferential trade arrangements signed with the countries or regions concerned, China will continue to implement the agreement tax rate on some commodities originating in 23 countries or regions in 2020. Among them, China and New Zealand, Peru, Costa Rica, Switzerland, Iceland, Singapore, Australia, South Korea, Georgia, Chile, Pakistan FTA and Asia Pacific trade agreements will further reduce taxes. In 2020, we continued to implement preferential tax rates for the least developed countries that have established diplomatic relations with China and complete the exchange of documents, and adjusted the preferential tariff rate according to the list of the least developed countries of the United Nations and the transitional period in China.

Starting from July 1, 2020, China will also implement a fifth step tax reduction on the most favored nation rate of 176 information technology products, and at the same time link up with this, and adjust the provisional tariff rate of some of the information technology products.

The above adjustment measures will help reduce import costs, promote orderly and free flow of international and domestic elements, and promote the construction of a new higher level open economy system. It is conducive to improving the level of opening to the outside world, expanding new space for trade development and speeding up the construction of high standard free trade zones. It is conducive to sharing the fruits of development with other countries and regions and opening up a new situation of international trade that is open, cooperative, inclusive and inclusive.