New tariff policy released: import tariffs on potassium nitrate, heavy superphosphate, organic-inorganic compound fertilizer, etc. are reduced
June 12, 2024, 9:21 AM
Ministry of Finance website
2920
Guide
Highlights at a glance
China has implemented new tariff adjustments effective January 1, 2022, to support high-quality development and a new development pattern. It introduces lower temporary import rates on 954 items, including key resource products like potassium fertilizers and phosphate-based fertilizers, to address domestic supply shortages. Tariff preferences are removed for certain goods such as amino acids, lead-acid batteries, gelatin, pork, and m-cresol, reverting to most-favored-nation rates, while export tariffs on phosphorus and blister copper are raised to promote industrial upgrading. Under free trade agreements with 29 countries or regions—including New Zealand, Switzerland, South Korea, and via the RCEP and China-Cambodia FTA—preferential treaty rates will be applied. LDCs with diplomatic ties to China will continue receiving duty preferences. The update aligns with revised WTO and World Customs Organization standards, adjusting tariff codes and rules, bringing the total number of tariff ite
In order to fully, accurately and fully implement the new development concept, support the construction of a new development pattern, and continue to promote high-quality development, China has approved the State Council and issued a notice by the Tariff Commission of the State Council to adjust the import and export tariffs of certain commodities in 2022.
Based on China’s domestic development needs, we will coordinate the use of both domestic and international markets and further exert the role of tariff macro-control. Starting from January 1, 2022, China will implement temporary import tariff rates lower than the most-favored-nation tariff rate on 954 commodities. Reduce the import tariffs on resource products such as pyrite, pure potassium chloride, potassium nitrate for fertilizers, superphosphate, potassium sulfate, and organic-inorganic compound fertilizers that are in short supply in the country.
Starting from January 1, 2022, in accordance with domestic industrial development and changes in supply and demand, within the scope of China's commitment to join the World Trade Organization, import and export tariffs on certain commodities will be increased. Among them, some amino acids, lead-acid battery parts, gelatin, pork, m-cresol, etc. have been removed from the temporary import tax rate, and the most-favored-nation tax rate has been restored; in order to promote the transformation and upgrading and high-quality development of related industries, the export tariffs on phosphorus and blister copper have been increased.
In order to continue to promote a high level of opening up to the outside world, in accordance with the free trade agreements and preferential trade arrangements signed between China and relevant countries or regions, in 2022, treaty tax rates will be implemented on some commodities originating in 29 countries or regions. Among them, China and New Zealand, Peru, Costa Rica, Switzerland, Iceland, South Korea, Australia, Pakistan, Georgia, Mauritius and other bilateral free trade agreements and Asia-Pacific trade agreements will further reduce taxes; "Regional Comprehensive Economic Partnership Agreement" (RCEP), China -The Cambodia Free Trade Agreement will come into effect on January 1, 2022 and implement tax reductions.
In 2022, preferential tax rates will continue to be applied to the least developed countries that have established diplomatic relations with China and completed the exchange of letters.
According to the contents of the "Harmonized Commodity Names and Coding System" revised by the World Customs Organization and relevant rules of the World Trade Organization, in 2022, technical conversion of tariff items and tax rates will be carried out. At the same time, in order to meet the needs of industrial development and facilitate trade supervision, some tax rules and tax items will also be adjusted. After the adjustment, the total number of tariff items is 8,930.
The above adjustment measures adhere to the people-centered, overall development and security, based on domestic development needs, are conducive to maintaining the security and stability of the domestic industrial chain and supply chain, supporting the smooth operation of the economy across cycles and long-term improvement; conducive to guiding the allocation of resources and supporting technological innovation And industrial transformation and upgrading to promote green and low-carbon development; it is conducive to taking advantage of China's super-large-scale market, actively participating in the reshaping of the global industrial chain, building a network of high-standard free trade zones facing the world, and continuing to promote high-level opening up.
Based on China’s domestic development needs, we will coordinate the use of both domestic and international markets and further exert the role of tariff macro-control. Starting from January 1, 2022, China will implement temporary import tariff rates lower than the most-favored-nation tariff rate on 954 commodities. Reduce the import tariffs on resource products such as pyrite, pure potassium chloride, potassium nitrate for fertilizers, superphosphate, potassium sulfate, and organic-inorganic compound fertilizers that are in short supply in the country.
Starting from January 1, 2022, in accordance with domestic industrial development and changes in supply and demand, within the scope of China's commitment to join the World Trade Organization, import and export tariffs on certain commodities will be increased. Among them, some amino acids, lead-acid battery parts, gelatin, pork, m-cresol, etc. have been removed from the temporary import tax rate, and the most-favored-nation tax rate has been restored; in order to promote the transformation and upgrading and high-quality development of related industries, the export tariffs on phosphorus and blister copper have been increased.
In order to continue to promote a high level of opening up to the outside world, in accordance with the free trade agreements and preferential trade arrangements signed between China and relevant countries or regions, in 2022, treaty tax rates will be implemented on some commodities originating in 29 countries or regions. Among them, China and New Zealand, Peru, Costa Rica, Switzerland, Iceland, South Korea, Australia, Pakistan, Georgia, Mauritius and other bilateral free trade agreements and Asia-Pacific trade agreements will further reduce taxes; "Regional Comprehensive Economic Partnership Agreement" (RCEP), China -The Cambodia Free Trade Agreement will come into effect on January 1, 2022 and implement tax reductions.
In 2022, preferential tax rates will continue to be applied to the least developed countries that have established diplomatic relations with China and completed the exchange of letters.
According to the contents of the "Harmonized Commodity Names and Coding System" revised by the World Customs Organization and relevant rules of the World Trade Organization, in 2022, technical conversion of tariff items and tax rates will be carried out. At the same time, in order to meet the needs of industrial development and facilitate trade supervision, some tax rules and tax items will also be adjusted. After the adjustment, the total number of tariff items is 8,930.
The above adjustment measures adhere to the people-centered, overall development and security, based on domestic development needs, are conducive to maintaining the security and stability of the domestic industrial chain and supply chain, supporting the smooth operation of the economy across cycles and long-term improvement; conducive to guiding the allocation of resources and supporting technological innovation And industrial transformation and upgrading to promote green and low-carbon development; it is conducive to taking advantage of China's super-large-scale market, actively participating in the reshaping of the global industrial chain, building a network of high-standard free trade zones facing the world, and continuing to promote high-level opening up.
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June 12, 2024, 9:21 AM
June 12, 2024, 9:21 AM
