Summary of the latest import and export tariff adjustments of 17 countries!

Summary of the latest import and export tariff adjustments of 17 countries!

Bangladesh

Import duties on raw and refined sugar were eliminated to enable consumers to obtain sweeteners at lower prices. In addition to this, the import regulatory duty on sugar was reduced from 30% to 25%.

Brazil

Import duties on six products, including two types of steel, two types of aluminum plates, bracelets for measuring blood pressure and pulse, and radar antennas, will be abolished for one year.

From April 1, 2023, the suspension of final countervailing duties on Brazilian aluminum rolled products originating in China will be extended for up to three months.

The final countervailing duty on hot-rolled steel plates originating in China will continue to be suspended until May 1, 2023.

Argentina

Increase import duties on tablets: Increase import tariffs on four types of tablets and notebooks from 0 to 8% and 16%, respectively, to boost national industrial productivity related to portable computer equipment.

An anti-dumping duty of 0.46 US dollars per unit is levied on high-speed hacksaw blades for hand saws originating in China, which is valid for 5 years.

Turkey

A 40% tariff will be imposed on pure electric vehicles imported from China.

An anti-dumping duty of 21.12% is levied on base metal welding wire originating in China, and an anti-dumping duty of 28.87% is applied to other Chinese enterprises, which is valid for 5 years.

Russia

Between March 29 and April 4, export duties (denominated in rubles) on wheat and corn were raised.

It is proposed to include IKEA goods in the list of products that allow "parallel imports" and impose tariffs of up to 50% on furniture from Europe.

For companies from unfriendly countries when their assets are withdrawn from Russia, they must contribute at least 10% of their market value to the Russian budget. If an asset is sold at a discount of more than 90% to the market value, the company must voluntarily contribute not less than 10% of the market value of the corresponding asset.

From 1 January 2023 to 30 June 2027, enterprises engaged in domestic and inbound tourism are exempt from VAT. Increase the amount of preferential loans for hotel construction, provide preferential loans to tourism organizations and individual entrepreneurs, and formulate national support measures for the Azov-Black Sea maritime rapid passenger transport corridor.

India

The Mustard Oil Producers Association has called for a 20 to 25 percent increase in palm oil import duties to limit palm oil imports and boost local prices.

United States

With a 3.76 per cent tax rate on 185 Indian shrimp exporters, India has been the largest shrimp exporter to the United States since 2013.

Korea

Anti-dumping duties are levied on seamless copper pipes originating in China and Vietnam for a period of 5 years. It was 16.52% to 18.12% in China and 9.98% to 14.78% in Vietnam. No anti-dumping duties are levied on enterprises that have achieved price commitments.

Vietnam

Extension of safeguard duty on imported billets and steel bars, as well as on imported wire rods. The details are as follows: 6.3% from March 22, 2023 to March 21, 2024, 6.2% from March 22, 2024 to March 21, 2025, 6.1% from March 22, 2025 to March 21, 2026, and termination of safeguard measures from March 22, 2026.

Colombia

A minimum FOB price of US$1,913.92/ton is imposed on non-stainless steel oil and gas well pipes originating in China, and an anti-dumping duty equivalent to the difference between the minimum limit price and the declared price is levied on products whose FOB declared price is lower than the minimum limit price, with an effective period of five years.