China to implement similar tariff-rate quotas from May 24th onwards
China is going to start the implementation of the second period of tariff-rate quota system from May 24th onwards. It is reported that the Commerce Ministry is going to use more or less the same tariff-rate quotas as announced back in November 2002. The quotas and tariff rates are;Item Tariff quota(mt) Surplus tax Hot Rolled Steel 2'880'000 9.5% Cold Rolled Steel 5'740'000 20.6% Pre-painted Steel 664'000 21.3% Non-Grain Oriented Silicon Steel 939'000 18.6% Cold Rolled Stainless Steel 653'000 16.7%Country specific quotas will again be given to; Ukraine, Russia, Kazakhstan, Japan, Taiwan, and South Korea for hot rolled and cold rolled steel; Japan, Taiwan, South Korea and Germany for cold rolled stainless steel. The only significant difference for the second period is the increase of 200'000 tons in NGO silicon steel quota. The new tariff-rate quota system will be effective from May 24th onwards for one year. Chinese autorities will be exempting a certian number of steel products from tariffs after the quotas given have been completely used during this second term. The exemptions will be granted to 65 cold rolled stainless steel items, eight cold rolled steel items, two NGO silicon steel items, and one pre-painted steel item, basis the request of Chinese end users.