China will adjust import tariffs on some commodities from January 1, 2020
With the approval of the State Council, the Customs Tariff Commission of the State Council has recently issued a notice that from January 1, 2020, China will implement a tentative import tax rate for more than 850 commodities below the MFN tariff rate. Among them, new or reduced provisional tax rates for frozen pork, frozen avocados, non-frozen orange juice, etc .; zero tariffs on alkaloids used to treat asthma and raw materials for the production of new diabetes treatments; new or reduced semiconductors Testing and sorting taping machine, high-pressure turbine gap control valve, torque converter and aluminum valve core for automatic transmission, ferroniobium, multi-element integrated circuit memory, raw material for large-scale film, dispersion for photoresist, culture medium, etc. Provisional tax rate on commodity imports; increase or decrease the provisional tax rate on some timber and paper products. Abolition of the tentative tariff rates for imports of tungsten waste and scrap and niobium waste and scrap, and resume the implementation of the most-favored-nation rate. In 2020, China will continue to implement the agreed tax rates on some commodities originating in 23 countries or regions. Among them, China and New Zealand, Peru, Costa Rica, Switzerland, Iceland, Singapore, Australia, South Korea, Georgia, Chile, Pakistan Free Trade Agreement and Asia-Pacific Trade Agreement have further reduced taxes. Developed countries implement preferential tax rates and adjust the applicable countries according to the list of the United Nations Least Developed Countries and China's transitional arrangements. From July 1, 2020, China will also implement the fifth step of tax reduction on 176 information technology products' most-favored nation tariff rates, and at the same time, adjust the tentative tax rates on imports of some of these information technology products accordingly. (Source of information: Shandong Provincial Department of Commerce)