The Customs Tariff Commission of the State Council released on December 15, 2021 the 2022 Tariff Adjustment Plan to adjust the import and export tariffs of selected goods from January 1, 2022.
From the date, China will apply interim import tariff rates lower than the Most-favored Nation (MFN) rates for 954 items of goods, including imposing zero tariff for a new type of anticancer drug named radium chloride injection, and reducing the import tariffs of selected consumer goods. The country will also increase the import and export tariffs of some commodities. For the goods including lead-acid battery parts and pork, the interim import tax rates would be removed, with the MFN tariff rates resumed. From July 1, 2022, China will implement the seventh-stage reduction of the MFN rates for 62 IT products. After the adjustment, China's overall tariff level will remain at 7.4%. In 2022, the country will apply the agreed tax rates on selected goods originating in 29 countries or regions.