China adjusts tariffs on imported commodities

BEIJING - China will implement provisional tariffs that are lower than the most-favored-nation rates on 954 imported commodities, according to a circular issued by the Customs Tariff Commission of the State Council on Wednesday.

The adjustment, involving commodities including cancer drugs, aquatic products and baby clothing, will take effect on Jan 1, 2022.

The 954 products also include ski gear, artworks, auto parts that help reduce greenhouse gas emissions, high-voltage cables for high-speed trains, and fuel-cell components.

Considering the development of domestic industries and changes in supply-demand conditions, the country will raise import and export tariffs from Jan 1 on some commodities within the range of its accession commitments to the World Trade Organization, said the circular.

For instance, it will impose higher export tariffs on phosphorus and blister copper to push forward the upgrades and high-quality development of related industries.

In accordance with the free trade agreements and preferential trade arrangements with other countries or regions, China will impose conventional tariff rates on some products from 29 countries and regions amid efforts to open up at a higher level.

According to the circular, China will also grant preferential tariff treatments next year to the least developed countries that have established diplomatic relations and completed the exchange of letters with China.