[SMM Hot Topic] "2025 Tariff Adjustment Plan" Released: Any Changes to Steel-Related Products?

Published: Dec 31, 2024 11:33

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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 building of a strong trading nation, and steadily advance the construction of Chinese-style modernization, the Customs Tariff Commission of the State Council issued an announcement on the 26th, stating that starting from January 1, 2025, adjustments will be made to the import tariff rates and tariff items for certain goods in accordance with the "Customs Law of the People's Republic of China" and related regulations. According to SMM's compilation, the specific comparison is as follows:

　　To thoroughly implement the guiding principles 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 regulatory role of tariffs, support the development of new productive forces, accelerate the building of a strong trading nation, and steadily advance the construction of Chinese-style modernization, the Customs Tariff Commission of the State Council issued an announcement on the 26th. According to the "Customs Law of the People's Republic of China" and relevant regulations, starting from January 1, 2025, adjustments will be made to the import tariff rates and tariff items for certain goods. As compiled by SMM, the specific comparison is as follows:

Compared with the 2024 tariff adjustment plan, there will be no adjustments to the import and export tariff rates for steel-related products in 2025. Additionally, no adjustments to the tariff items for steel-related products were involved this year.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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