October 1, 2018

China: further reduction of customs duties as of November 1, 2018

SUPLY CHAIN

On Wednesday 26/09/2018, China announced a further reduction in import tariffs for 1585 products, applicable on 01/11/2018.

The list of impacted nomenclatures is not yet published, but this new measure opening up to free trade should in particular concern the Machine tools, the Electrical appliances andtextile.

After this further decline (cf. China: further reduction of customs duties as of 1 July 2018), rateThe country's average customs duties will be reduced to 7.5%, down from 9.8% in 2017.

In the midst of trade war with the United States (cf. USA / China: resumption of commercial hostilities...) and attacked by various countries accusing them of not complying with WTO rules, China may try to ease tensions...

Contact us to obtain the list of nomenclatures concerned with the new customs duty rate applicable upon its official publication.

Source:

Source(s): www.reuters.com

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