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China to raise export tariffs on 74 textile goods
China announced Friday it would raise the export tariffs on 74 sorts of textile products, with a 400-percent hike for most of the products, beginning June 1,2005.
The Customs Tariff Commission of the State Council, China's cabinet, said following the approval of the Chinese government, it will raise the export tariffs on 74 textile categories, on which export tariffs were imposed from Jan. 1 this year. The tariff hike was announced in the wake of a United States decision this week to re-impose restrictions on seven kinds of China textile and clothing imports. The European Union is also pressuring China to take more strict measures to curb textile exports to the European market. The Commission also announced the imposition of export tariffs on flax yarn, the reduction of that on three varieties of briefs and shorts, and the abolition of that on knitted garment accessories. China now imposes export tariffs between 2 percent and 4 percent on 148
categories of textile and clothing exports, including coats and skirts. The
practice started on Jan. 1 this year as part of the government efforts to
prevent a sharp surge inthe country's textile and clothing exports to the
American and European markets. |
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