New Border Trade Policy: Non-Duty-Free Product List Announced
The Ministry of Finance, the General Administration of Customs, and the State Administration of Taxation have jointly issued a notice regarding the list of non-duty-free products for border trade. This list includes 21 items, such as tobacco, alcohol, and certain agricultural products exceeding the specified quantities, like wheat. The policy aims to regulate border trade activities, prevent misuse of duty-free policies, and ensure fair market competition.
China-Ecuador Free Trade Agreement Takes Effect
The Free Trade Agreement (FTA) between China and Ecuador came into effect on May 1, 2024. Under the FTA, both countries will eliminate tariffs on 90% of tariff lines, with about 60% of tariffs being removed immediately. Notably, 99.6% of Ecuador's exports to China will see immediate or gradual tariff reductions. This agreement strengthens China-Ecuador economic ties and offers new opportunities for businesses in both countries
China Promotes Cross-Border E-commerce Initiatives
The Ministry of Commerce recently released the "Digital Commerce Three-Year Action Plan (2024-2026)," aiming to optimize cross-border e-commerce export regulations. The plan includes special actions to support cross-border e-commerce platforms and sellers, guiding traditional foreign trade enterprises to develop cross-border e-commerce. It also aims to improve the professionalism, scale, and intelligence of overseas warehouses, enhancing China's competitiveness in global e-commerce
China Extends Visa-Free Policy for 12 Countries
To further promote international exchanges, China has decided to extend its visa-free policy for 12 countries, including France, Germany, and Italy, until December 31, 2025. Citizens from these countries holding ordinary passports can enter China for business, tourism, family visits, and transit for up to 15 days without a visa. This move will foster closer economic and cultural exchanges between China and these nations.
International Policy Developments and Their Impacts
U.S. Imposes New Tariffs on Chinese Products
The U.S. Trade Representative (USTR) announced that starting August 1, 2024, the U.S. will impose tariffs on Chinese electric vehicles, batteries, computer chips, and medical products. At the same time, tariffs on some industrial machinery will be exempted until May 31, 2025. This measure reflects the U.S.'s protectionist stance in high-value tech sectors and will have significant implications for Sino-American trade relations.
UK Suspends Import Duties on Over 100 Products
The UK government announced a suspension of import duties on over 100 products until June 2026. This decision, made in response to business demands, targets products with insufficient domestic production. The policy includes 126 new tariff suspensions and extensions for 11 existing ones, aiming to alleviate supply pressures and enhance the competitiveness of local industries.
Brazil Sets Import Quotas on Steel Products
Brazil has established import quotas for 11 types of steel products, imposing a 25% tariff on imports exceeding these quotas for 12 months. This measure aims to reduce idle capacity in the domestic steel industry and support local production, reflecting Brazil's emphasis on economic self-sufficiency and industrial protection.
Thailand Imposes VAT on Low-Value Imports
Thailand is drafting new legislation to impose VAT on all imported products, including those valued below 1,500 baht. Based on OECD tax mechanisms, this law aims to collect VAT through e-commerce platforms, ensuring fair treatment for domestic small and medium enterprises. This initiative will increase government revenue and regulate market competition.
Anti-Dumping Measures and Investigations
Mexico's Preliminary Anti-Dumping Ruling on Chinese Seamless Steel Pipes
The Mexican Ministry of Economy has upheld the anti-dumping duties on Chinese seamless steel pipes at $1,568.92 per ton for pipes with an outer diameter of 60.3 to 114.3 mm. This decision underscores Mexico's commitment to protecting its domestic steel industry.
Argentina Initiates Anti-Dumping Investigation on Chinese Microwaves
Argentina has launched an anti-dumping investigation into non-built-in microwave ovens from China, focusing on products with a capacity of up to 45 liters. This move indicates Argentina's protective stance towards its domestic appliance industry, aiming to prevent market disruption by low-priced imports.
Turkey Continues Anti-Dumping Duties on Chinese Air Conditioners
Turkey has decided to maintain a 25% anti-dumping duty on Chinese wall-mounted air conditioners for another five years. This decision highlights Turkey's ongoing efforts to safeguard its manufacturing sector against international competition.
In conclusion, various countries are adjusting their import-export policies and implementing anti-dumping measures to protect their economic interests and industry security. Chinese enterprises must stay informed and adapt their strategies to navigate the ever-evolving global trade environment.
New Border Trade Policy: Non-Duty-Free Product List Announced
The Ministry of Finance, the General Administration of Customs, and the State Administration of Taxation have jointly issued a notice regarding the list of non-duty-free products for border trade. This list includes 21 items, such as tobacco, alcohol, and certain agricultural products exceeding the specified quantities, like wheat. The policy aims to regulate border trade activities, prevent misuse of duty-free policies, and ensure fair market competition.
China-Ecuador Free Trade Agreement Takes Effect
The Free Trade Agreement (FTA) between China and Ecuador came into effect on May 1, 2024. Under the FTA, both countries will eliminate tariffs on 90% of tariff lines, with about 60% of tariffs being removed immediately. Notably, 99.6% of Ecuador's exports to China will see immediate or gradual tariff reductions. This agreement strengthens China-Ecuador economic ties and offers new opportunities for businesses in both countries
China Promotes Cross-Border E-commerce Initiatives
The Ministry of Commerce recently released the "Digital Commerce Three-Year Action Plan (2024-2026)," aiming to optimize cross-border e-commerce export regulations. The plan includes special actions to support cross-border e-commerce platforms and sellers, guiding traditional foreign trade enterprises to develop cross-border e-commerce. It also aims to improve the professionalism, scale, and intelligence of overseas warehouses, enhancing China's competitiveness in global e-commerce
China Extends Visa-Free Policy for 12 Countries
To further promote international exchanges, China has decided to extend its visa-free policy for 12 countries, including France, Germany, and Italy, until December 31, 2025. Citizens from these countries holding ordinary passports can enter China for business, tourism, family visits, and transit for up to 15 days without a visa. This move will foster closer economic and cultural exchanges between China and these nations.
International Policy Developments and Their Impacts
U.S. Imposes New Tariffs on Chinese Products
The U.S. Trade Representative (USTR) announced that starting August 1, 2024, the U.S. will impose tariffs on Chinese electric vehicles, batteries, computer chips, and medical products. At the same time, tariffs on some industrial machinery will be exempted until May 31, 2025. This measure reflects the U.S.'s protectionist stance in high-value tech sectors and will have significant implications for Sino-American trade relations.
UK Suspends Import Duties on Over 100 Products
The UK government announced a suspension of import duties on over 100 products until June 2026. This decision, made in response to business demands, targets products with insufficient domestic production. The policy includes 126 new tariff suspensions and extensions for 11 existing ones, aiming to alleviate supply pressures and enhance the competitiveness of local industries.
Brazil Sets Import Quotas on Steel Products
Brazil has established import quotas for 11 types of steel products, imposing a 25% tariff on imports exceeding these quotas for 12 months. This measure aims to reduce idle capacity in the domestic steel industry and support local production, reflecting Brazil's emphasis on economic self-sufficiency and industrial protection.
Thailand Imposes VAT on Low-Value Imports
Thailand is drafting new legislation to impose VAT on all imported products, including those valued below 1,500 baht. Based on OECD tax mechanisms, this law aims to collect VAT through e-commerce platforms, ensuring fair treatment for domestic small and medium enterprises. This initiative will increase government revenue and regulate market competition.
Anti-Dumping Measures and Investigations
Mexico's Preliminary Anti-Dumping Ruling on Chinese Seamless Steel Pipes
The Mexican Ministry of Economy has upheld the anti-dumping duties on Chinese seamless steel pipes at $1,568.92 per ton for pipes with an outer diameter of 60.3 to 114.3 mm. This decision underscores Mexico's commitment to protecting its domestic steel industry.
Argentina Initiates Anti-Dumping Investigation on Chinese Microwaves
Argentina has launched an anti-dumping investigation into non-built-in microwave ovens from China, focusing on products with a capacity of up to 45 liters. This move indicates Argentina's protective stance towards its domestic appliance industry, aiming to prevent market disruption by low-priced imports.
Turkey Continues Anti-Dumping Duties on Chinese Air Conditioners
Turkey has decided to maintain a 25% anti-dumping duty on Chinese wall-mounted air conditioners for another five years. This decision highlights Turkey's ongoing efforts to safeguard its manufacturing sector against international competition.
In conclusion, various countries are adjusting their import-export policies and implementing anti-dumping measures to protect their economic interests and industry security. Chinese enterprises must stay informed and adapt their strategies to navigate the ever-evolving global trade environment.
