Trade Developments: China Grants Tariff Cuts to 143 Products from Argentina

China has granted tariff cuts or extensions of temporary tariff reductions to 143 agribusiness products from Argentina, improving their access conditions to the Chinese market, as reported by the Secretariat of Agriculture, Livestock, and Fisheries of the Argentine Ministry of Economy.

According to the Argentine secretariat, this measure, formalized in a statement from the Chinese Ministry of Finance, aims to lower prices, stimulate consumption, and adjust or modify temporary tariffs based on the local market’s evolution of demand and supply.

China initiated this policy in 2016, benefiting all countries with non-free trade agreements and thereby promoting greater openness of its market to international trade, as highlighted by the Argentine government in the statement.

The following products will benefit from these measures, according to the Secretariat of Agriculture, Livestock, and Fisheries of Argentina:

Vegetables and Spices: Reduction in the tariff on sweet corn grains, dried, from 13% to 0%; and on coriander seeds, uncrushed or ground, from 15% to 0%.

Dairy: Incorporation of a reduced tariff on infant milk formulas for medicinal use of 5% or 0%.

Fishery: Maintenance of the tariff reduction on frozen shrimp, except peeled, from 2%, as well as the decline in the tariff on frozen crabs and other frozen fish, from 5%.

Dairy: Maintenance of the reduction on cheeses (except fresh) by 8%, on infant milk formulas by 5% or 0%, on whey by 2%, and on milk protein by 5%.

Fruits: Maintenance of the temporary tariff reduction on red blueberries and other varieties of fresh and dried berries by 7% and on fresh or dried pecans by 7%, among others.

Oilseeds: Maintenance of the temporary tariff reductions on flax seeds from 15% to 9% and sunflower seeds from 15% to 9%.

Wood: Maintenance of the reduction for charcoal from 2% to 0%, wood wool from 2% to 0%, and applying a zero tariff for sheets and other longitudinally sawn woods with a thickness of less than 6 mm.

Click here to access the original news piece in Portuguese: https://globorural.globo.com/agricultura/noticia/2024/01/china-amplia-reducao-de-tarifas-de-importacao-do-agro-argentino.ghtml

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