Chinese Ministry of Finance, the General Administration of Customs, and the State Administration of Taxation jointly issued a notice that revokes the bonded treatment for steel materials imported under 78 tariff codes, with an effective date of 1 January 2015. With the notice on revoking the bonded treatment for steel materials imported under processing trade, enterprises importing steel materials under the processing trade regime need to consider the potential effect that these changes may have on operations even if the steel materials they currently import are not within the 78 tariff codes. Enterprises importing steel materials within the 78 tariff codes may want to consider an importation batch before 31 December 2014 to reduce the duty implications.
Related Posts

India to impose safeguard duty on steel to curb imports from China, South Korea, Japan
India plans to introduce a temporary 12% safeguard duty on certain steel imports to address a rise in low-cost shipments; mainly from China, South Korea, and Japan; according to a government source. The measure, recommended by the Directorate
Read More
China cautions countries signing trade deals favouring the US
China has cautioned nations on Monday, 21 April 2025, that are affected by US President Donald Trump’s “reciprocal tariffs” that it will strongly oppose any party attempting to strike trade deals with the US at its expense. The warning
Read More
US: Trump administration plans to impose 245% tariff on ChinaÂ
The tariff wars between two of the world's largest economies, the US and China, show no signs of slowing down. In the latest move, the Trump Administration said that China could face tariffs as high as 245% in response to its retaliatory measures.
Read More
US: Trump administration grants reciprocal tariff exceptions for smartphones, computers, and electronics from China
The Trump Administration released a memorandum titled “Clarification of Exceptions Under Executive Order 14257 of April 2, 2025, as Amended” on 11 April 2025. The clarification broadens the reciprocal tariff exception for "semiconductors" to
Read More
Brazil: Senate approves tax treaty protocol with China
Brazil’s Senate has approved the protocol amending the Brazil-China Income Tax Treaty (1991) through Draft Legislative Decree No. 343/2024 on 8 April 2025. Signed on 23 May 2022, this protocol is the first amendment to the treaty. It will come
Read More
Trade war escalades: China imposes 125% tariffs on US imports
Beijing announced it has increased its tariffs on US imports to 125% earlier today, 11 April 2025. "The US side's imposition of excessively high tariffs on China seriously violates international economic and trade rules, runs counter to basic
Read More