A new law on tariffs has entered into force in China
The new Chinese Customs Law consolidates the rules on import and export duties, previously implemented through several legal documents, and provides important clarifications and additions to previous regulations. Among other changes, it provides for provisions allowing the Chinese government to impose counter-tariffs on imported goods, codifying these powers in law for the first time.
To date, Chinese law did not provide for legislative powers to implement countervailing tariffs, although China was nevertheless able to impose tariffs on its trading partners by other means.
Now, if a country or region adopts trade bans, restrictions, tariffs or other measures affecting trade with China in violation of international treaties or agreements of which China is a party, Beijing may resort to measures such as retaliatory tariffs on imported goods originating in that country or region.
At the same time, it is important to stress that this tariff law also strengthens the rules and regulations relating to the origin of goods, stipulating that the application of tariff rates must comply with the corresponding rules of origin. Although this provision has already been implemented, it is the first time that it has been codified in the law.
To read more
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce tortor lake, ornare dictum odio no, mollis tincidunt mi. Vivamus feugiat turpis ac consequattrices. Nam nec leo in nisi posuere vehicula. None porta tempus feugiat. Praesent shovel, urna sed placerat sodales, ex tellus ultricies velit, vitae auctor augue diam at quam. Praesent ornare arcu and sem curriculum molestie. Morbi congue arcu velit, a laoreet torture ultricies id. Duis vulputate lacinia magna, eget elementum mi pulvinar eget. Sed consectetur malesuada ultricies. In eget purus nect velit sodales ullamcorper eget in ligula. Mauris ulcers posuere lobortis. Nulla nisi purus, beaconra no is ac, faucibus lacinia torturer. Integer nunc duei, vehicula finishedbus had, euismod and orci. No mollis vestibulum luctus.
Interdum and malesuada fames ac ante ipsum primis in faucibus. Sed a ligula sagittis, eleifend metus ac, sagittis purus. Vivamus ut blandit dolor, id aliquam mi. Sed tempor tempus ornare. Sed nec risus a metus eleifend sagittis. Aenean had torture lectus. Aliquam varius iaculis curriculum. Aliquam stubborn gravida augue and elementum. Aliquam trestique interdum pretium. Nunc ut selerisk massa, sed venenatis diam. No vehicula luctus odio. Integer ac turpis massa.