From January 1, China will reduce import duties on cheese, whey and milk substitutes

Published 2021년 12월 24일

Tridge summary

In 2022, China will temporarily lower import duties on a variety of goods, including food, consumer goods, medical products, seafood, fruits, anti-cancer drugs, and high-tech products, to relieve financial burden on the population and promote green low-carbon development. The Ministry of Finance will apply these temporary rates, which are lower than the tariffs of the most-favored-nation regime, to items such as whole milk substitutes, whey powder, cheese, salmon, cod, certain fruits, anti-cancer drugs, and high-tech products. However, the temporarily reduced import duties on items like batteries, gelatin, and pork will be eliminated, subjecting them to higher customs tariffs. Additionally, customs tariffs for 62 information technology products and goods from countries like Georgia, Romania, Australia, and New Zealand, which have ratified trade agreements with China, will also be reduced.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Explaining these measures, the Ministry of Finance of the People's Republic of China points out that in 2022, temporary rates of import duties will be introduced at a level lower than the tariffs of the most-favored-nation regime (MFN). The purpose of these adjustments, according to the letter of the Ministry of Finance, is to alleviate the financial burden for the population, increase the availability of some imported drugs and medical products, as well as food and consumer goods, promote green low-carbon development. In particular, whole milk substitutes, whey powder, and many types of cheese were reduced import duties. In addition, the innovation affected some seafood (salmon, cod), some fruits, anti-cancer drugs and some high-tech products for industry. The full list is available at (Chinese). At the same time, from January 1, the previously introduced temporarily reduced import duties on such foreign goods as components for batteries, gelatin, pork, etc. will be abolished. ...

Source: MilkUA