China will adjust import and export tariffs on selected goods in 2023 in a bid to support high-quality development and opening up under thedual circulation strategy, the Customs Tariff Commission of the State Council (the ‘Commission’) said on Thursday, December 29, 2022. According to theAnno...
In parallel, the Chinese tax authority's advance tax ruling system has been expanding. Followingits launch in Shanghai in December 2023, the tax authorities in Beijing and Maoming (a city in Guangdong province) have also recently begun to implement this system. This expansion should provide great...
"Chinese exports have indeed shifted a bit in the past few years in terms of destination, with the U.S. representing less than 15% of total Chinese exports in 2023, compared with nearly 18% on average in the 2010s," Francoise Huang, senior economist for Asia-Pacific and g...
The UK is the number one export market for EU-made EVs, and 49.1% of all new EVs registered in the UK in the first half of 2023 came from the EU. The new tariffs would not apply to EVs manufactured outside Europe, which would effectively make battery-powered cars made by global O...
President Javier Milei, in office since December 2023, has promised to turn the system upside down and make the Argentinian economy a bastion of liberalism. The cabinet’s intention is to end import tariffs altogether. The minister for the economy, Luis Caputo,...
Washington has suggested it would impose new limits on electic vechile (EV) tax credits, which is deemed as a new curb targeting Chinese firms. In the beginning of this month, the U.S. Department of Energy (DOE) proposed interpretive rule and request for public comment on its interpretation...
Responding to "China-EU trade imbalance" questions from foreign media employees, Chinese Foreign Ministry spokesperson Wang Wenbin noted last December that more than one-third of exports from EU companies in China went to the EU. Although China appears to have the trade surplus, the EU has reape...
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To allow for consideration under a four-year review of the aforementioned tariff-related actions starting from 2022, the USTR said last September that it decided to extend all the current exclusions through the end of 2023. On December 29, 2023, the USTR made public about an interim extension...