On December 28, China Ministry of Finance published the 2021 Tariff Adjustment Plan which adjusts provisional and conventional tariff rates for 880+ products. The provisional tariff rate is the rate applied to partial import products for a certain period and is usually most favored nation (MFN) tariff which is applies to import products from WTO members. The MFN tariff addressed most food products. However, in 2021 the provisional tariff rate for some types of special infant formula will be reduced to 0%, and the same tariff will also be lowered for whey protein powder. Conventional tariff rates for dairy products imported from Australia, Costa Rica, Georgia, Switzerland, Peru, and South Korea will also be reduced. The new tariffs are set to take effect on January 1, 2021.
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Posted on 7 January 2021