China announces tariff adjustments to boost imports
Beijing announced strategic changes to import tariffs, targeting key materials to spur economic growth and support environmental initiatives. The Ministry of Finance revealed over the weekend that the new adjustments will be implemented from January 1. Also read: Asian exporters gain momentum as Trump tariffs reshape trade landscape The Ministry of Commerce stated that temporary import tariffs lower than the most-favored-nation rate will apply to 935 items. These include ethane reduction and certain recycling of copper and aluminum raw materials. The move is in line with China’s broader goal of promoting green and low-carbon development. Data from the IndexBox platform shows that China’s aluminum import market alone shows significant growth potential, driven by sustainable industrial practices and increased demand for recycled materials. In addition, tariff reform will also lead to higher prices for commodities such as molasses and sugary premixes. Instead, cuts will apply to products such as cyclic olefin polymers, ethylene-vinyl alcohol copolymers and automatic transmissions designed for special-purpose…
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