May 28 2021

China Adjusts Tariff Rates and Scraps Export Rebate Tax for Some Steel Products

Announcement by The Customs Tariff Commission of the State Council

The Customs Tariff Commission of the State Council released the fourth announcement for 2021 on April 28. Starting from May 1, 2021 tariff rates for some iron & steel products will be adjusted.

The import duty for pig iron, crude steel, recycled iron and steel materials will be provisionally set at zero; export tariff rates on ferrosilicon, ferrochrome and high-purity pig iron should be increased to 25%, 20% and 15%, respectively.

On the same day the Ministry of Finance and the State Taxation Administration released a separate announcement, saying that export rebate tax for 146 steel products will be scrapped from May 1, 2021. The policy will be implemented from the date of export indicated on the customs declaration document.