General

The editor compiled the new foreign trade regulations that will be implemented in August 2021 for foreign traders, so that everyone can understand the dynamics of the foreign trade industry in a timely manner, avoid risks in a timely manner, and adjust business plans.

Let's take a look~

01

Adjust export tariffs on some steel products

In the latest news on July 29, the Ministry of Finance and the State Administration of Taxation jointly issued the "Announcement on the Cancellation of Export Tax Rebates for Steel Products" (hereinafter referred to as the "Announcement").

The announcement stated that starting August 1, 2021, export tax rebates for some steel products will be cancelled. The specific execution time shall be defined by the export date indicated on the export goods declaration form.

In addition, starting from August 1, 2021, the export tariffs of ferrochrome and high-purity pig iron will be appropriately increased, and the export tax rates of 40% and 20% will be implemented after adjustments.

This is since May 1st, my country has once again cancelled some steel tariffs.

02

Shipping companies charge additional fees such as GRI, PSS, VAD, CGS, etc.

Since August, CMA CGM, COSCO, Evergreen, Hapag-Lloyd, HMM, ONE, Yangming, Yixing and other shipping companies have once again raised the GRI for trans-Pacific routes.

In addition, Hapag-Lloyd will impose additional PSS on the China-Australia route from August 1; Yixing will levy CGS at US ports from August 1; Mason will adjust the CGS of US West Ports from August 5; CGS will be added to the ports of the United States and Canada from 1st; Hapag-Lloyd will add VAD to the China-North America routes from August 15th.

03

Russia imposes additional export duties on ferrous and non-ferrous metals

Russia plans to impose a temporary tariff of at least 15% on exports of steel, nickel, aluminum and copper from August 1 to the end of this year to help ease domestic inflation.

The minimum specific tax rates are as follows:

Copper: USD 1,226 per ton;

Nickel: USD 2,321 per ton;

Low-grade aluminum: US$254 per ton;

Steel products: The tax rates for various products are different, of which hot-rolled steel is at least $115 per ton.

04

India cancels 7 import tariffs on organic chemical raw materials for pharmaceuticals

The Central Indirect Tax and Tariff Commission (CBIC) of the Ministry of Finance of India issued the 35/2021-Customs Announcement on July 12, canceling the import tariffs on seven organic chemical raw materials for pharmaceuticals, including lecithin (Egg Lecithin, HS 29232090) and high cholesterol (Cholesterol HP, HS 29061310) and other 6 items are exempt from tax until August 31, 2021, and the raw materials used to manufacture Covid-19 test reagents are exempt from tax until September 30, 2021.

After the second wave of the epidemic broke out in India, the Ministry of Finance previously announced the cancellation of anti-epidemic materials including medical oxygen, blood oxygen machines, testing reagents, active pharmaceutical ingredients (API), vaccine raw materials and other product import tariffs and commodity service taxes ( GST).

05

Myanmar relaxes import of anti-epidemic materials

The Ministry of Commerce of Myanmar issued a notice on July 11 with the following contents:

In order to promote the implementation of preventive measures against the new crown pneumonia epidemic, the Ministry of Commerce has cooperated with relevant departments to allow timely import of medicines and other medical equipment through shipping or border trade stations.

For the oxygen concentrators (Oxygen Concentrators) needed to treat the epidemic, there will be no need to apply for FDA certificates and import licenses, and they can be picked up in advance without paying a 3% tariff immediately.

The Trade Department of the Ministry of Commerce of Myanmar issued Newsletter No. 12/2021 on July 12. As the third wave of the new crown pneumonia epidemic is spreading rapidly, all medicines, medical equipment and liquid oxygen for the prevention and control of the epidemic that previously needed to apply for an import license ( Liquid Oxygen), starting from July 12, it is allowed to apply for an import license for 3 months.

06

Brazil cuts import tariffs on 23 products

The Executive Management Committee (Gecex) of the Foreign Trade Commission (Camex) of the Brazilian Ministry of Economy issued Announcement No. 197 on June 7 to reduce import tariffs on 23 products to ensure the normal supply of goods.

The list includes agricultural raw materials, chemicals, printing inks and contact lenses. The above-mentioned products will be subject to tariff quotas, and import tax tariffs will be reduced to 0 or 2% for a maximum of 365 days.

07

Customs to facilitate the exit application of therapeutic biological products

On July 8th, the General Administration issued the "Announcement on Matters Concerning the Approval of the Health and Quarantine of Entry and Exit Special Articles" (No. 52 of 2021), clarifying the "Medical Device Export Record Form" and the "Export Sales of Medical Device Products" issued by the drug regulatory authority. The certificate can be used as the relevant application materials for the enterprise to handle the sanitation and quarantine approval of entry and exit special articles.

In short, enterprises can handle export customs clearance with the aforementioned materials, and completely solve the policy restrictions that plague the export of enterprises' products.