SMM, December 31: The Customs Tariff Commission of the State Council issued an announcement stating that, to thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the second and third plenary sessions of the 20th Central Committee, fully leverage the macro-regulation role of tariffs, support the development of new productive forces, accelerate the construction of a strong trading nation, and steadily advance the construction of Chinese-style modernization, adjustments will be made to the import tariff rates and tariff items for certain goods starting January 1, 2025, in accordance with the "Customs Law of the People's Republic of China" and related regulations.
After comparing the 2024 tariff policy, SMM found that the import and export tariff rates for products related to the lead industry chain in 2025 have undergone partial adjustments and additions, mainly reflected in the agreed tariff rates, as detailed below:
1. Lead ores and concentrates: The export tariff rate for 2025 remains at 30%. Regarding agreed tariff rates, Ecuador, Serbia, and the Maldives have been added to the list of countries with zero tariffs.
2. Unwrought refined lead: Ecuador, Serbia, and the Maldives have been added to the list of countries with zero tariffs under the agreed tariff rates.
3. Lead-acid batteries for starting piston engines and other lead-acid batteries: Ecuador (rates of 8.8% and 0), Serbia (rates of 6% and 6%), and the Maldives (rates of 0) have been added to the list of agreed tariff rate countries. The tariff rate for lead-acid batteries for starting piston engines exported to South Korea has been reduced from 5% to 4.5%. Additionally, adjustments have been made to the tariff rates for RCEP members, with the classified rates for ASEAN, Australia, and New Zealand decreasing from 8.5% and 7% in 2024 to 8% and 6%, respectively; Japan's rates have been reduced from 8.6% and 7.3% to 8.1% and 6.4%, respectively; and South Korea's tariff rate for other lead-acid batteries has been reduced from 7% to 6%.
4. Waste and scrap of lead-acid batteries; waste lead-acid batteries (ex8548.1000) and others containing lead, cadmium, or mercury (ex8548.1000): Ecuador, Serbia, and the Maldives have been added to the list of agreed tariff rate countries, with rates of 7.1%, 6.4%, and 0, respectively. Meanwhile, the tariff rate for RCEP member Japan has been reduced from 5.8% to 5.1%, and the rate for Nicaragua has been reduced from 6.4% to 4.8%.
Source: Ministry of Finance, Customs Tariff Commission of the State Council, SMM compilation
