1. Home
  2. |Insights
  3. |China Announces Tariff Adjustments for 2020

China Announces Tariff Adjustments for 2020

Client Alert | 1 min read | 12.26.19

The Chinese Ministry of Finance (the MOF) issued this week a "Notice on Tariff Adjustment Plan 2020" (the "Notice") adjusting tariffs for certain products effective January 1, 2020.

According to the Notice, China will impose reduced temporary import tariffs, which are lower than the most-favored-nation (MFN) tariffs, on 859 products from all of its trade partners as part of an overall tariff adjustment program. The intent of the move is to “increase imports of products facing a relative domestic shortage, or foreign specialty goods for everyday consumption.” Products that will benefit include, without limitation, food, fruits, chemical, pharmaceutical, mineral, wood, machinery, electrical, optical, photographic and medical products. For example, currently the MFN rate for frozen pork is 12%; however, the applicable tariff rate will be reduced to 8% after the adjustment becomes effective. China will also apply zero import tariff on raw materials used for the production of anti-cancer medicines and new diabetes medicines to promote the production of new medicines.

In addition, as of July 1, 2020, China will reduce the MFN rates for 176 information technology products, such as mobile communication base stations, routers and equipment used for production of semiconductors and integrated circuits.

Please contact us if you would like to assess further the impact of the adjustment on your imports into China.

Zhiwei Chen, Director, International Trade Services, C&M International – Shanghai, and Jun Zhao, Senior Consultant, C&M International – Shanghai, also contributed to this alert.

Insights

Client Alert | 3 min read | 03.28.24

UK Government Seeks to Loosen Third Party Litigation Funding Regulation

On 19 March 2024, the Government followed through on a promise from the Ministry of Justice to introduce draft legislation to reverse the effect of  R (on the application of PACCAR Inc & Ors) v Competition Appeal Tribunal & Ors [2023] UKSC 28.  The effect of this ruling was discussed in our prior alert and follow on commentary discussing its effect on group competition litigation and initial government reform proposals. Should the bill pass, agreements to provide third party funding to litigation or advocacy services in England will no longer be required to comply with the Damages-Based Agreements Regulations 2013 (“DBA Regulations”) to be enforceable....