The Ministry of Finance announced on Friday [24 November 2017] cuts in import tariffs on some consumer products starting from December. The reduction of import tariffs will affect 187 tariff codes, including on food, health supplements, pharmaceuticals, garments and recreational products, and the average rate will drop to 7.7 percent from 17.3 percent, according to the ministry…Full Article: China Daily Nov 2017

Key Point

  • In December 2017, mainland China’s import tariffs for frozen Atlantic salmon and huchen [i.e. freshwater salmon] will be reduced from 10% to 5%, while tariffs for live/fresh/chilled rock shrimp and lobsters will be reduced from 15% to 5%. Other tariff reductions include powdered or processed cheese (12% to 8%), dry coconuts (12% to 7%), fresh or dry unpeeled Brazil nuts (10 % to 7%), fresh or dry unpeeled cashews (20% to 7%), hydrolyzed milk protein formula (20% to 0%), amino acid formula (20% to 0%), lactose-free infant formula (20% to 0%), and whisky (10% to 5%).

ChinaAg Comments

  • China’s Ministry of Finance will also reduce import tariffs for in-shell macadamias (24% to 12%), pecans (24% to 7%), avocados (25% to 7%), dried cranberries (25% to 15%), meat sausages (15% to 8%), blue cheese (15% to 8%), and mineral water (20% to 10%).
  • In June 2015, China announced that import tariffs would remained unchanged after the country’s 15-year World Trade Organization (WTO) transitional period.
  • In January 2013, China’s Ministry of Finance lowered import tariffs on 784 imported products in order to increase domestic consumption.
  • By 2010, China’s overall tariff level had declined from 15.3% to 9.8% since joining the WTO.
  • In December 2001, China became a member of the World Trade Organization (WTO). At the time, the USA negotiated a 3% across-the-board tariff for soybean imports.

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