China has imposed temporary tariffs on 110 exported
goods and reduced tariffs on 58 imported items, effective
November 1, as its trade surplus hit a new high of $109.85
billion in the first three quarters of the year, amid
concerns over disputes with its major trade partners.
November, export of copper, nickel and nine other metallurgical
products will attract a 15 per cent tariff. Exporters
of iron alloy, raw iron, steel billets and 27 other iron
and steel products will be charged a 10 per cent tariff,
the Chinese finance ministry said.
export of minerals and rare earth minerals will carry
a tariff of 10 per cent while energy products like coal,
charcoal and crude oil will carry a tariff of five per
of wooden flooring, disposable chopsticks and 19 other
goods will attract a 10 per cent duty.
Chinese government had, in September, cancelled or lowered
export tax rebates on hundreds of products. Products now
carrying lower import tariffs include plate-making equipment,
spare parts for textile machines, semiconductor modules,
coal, oil, fertilisers and certain leather products.
rising trade surplus is causing concern among its trading
especially the US, which demanded changes in China's currency
valuation to ease pressure of rising imports into US from