Imported auto parts fees revised
Source: Agencies |
August 29, 2009, Saturday
|
Print Edition
Print Edition
CHINA said yesterday it has revised its tariffs on imported auto parts after losing an appeal against a WTO ruling that it was breaking international trade rules.
Effective Tuesday, all imported auto parts will be taxed at the same rate regardless of the percentage of foreign-made parts used to make a vehicle, according to a notice posted on the Website of the National Development and Reform Commission, the country's top economic planner.
The notice gave no details or reason for the change.
However, China was required to amend its regulations after the World Trade Organization ruled against its policy of requiring foreign auto makers to buy more than 40 percent of the components used in any China-made vehicle from local suppliers or pay more than double the usual tariff on imported parts.
The WTO ruling last year that such policies violate international trade rules was a rare coup for China's trading partners. China lost an appeal against the ruling in December.
China argued that the higher tariffs were needed to prevent auto makers from evading steep vehicle import duties by importing cars in large chunks.
Effective Tuesday, all imported auto parts will be taxed at the same rate regardless of the percentage of foreign-made parts used to make a vehicle, according to a notice posted on the Website of the National Development and Reform Commission, the country's top economic planner.
The notice gave no details or reason for the change.
However, China was required to amend its regulations after the World Trade Organization ruled against its policy of requiring foreign auto makers to buy more than 40 percent of the components used in any China-made vehicle from local suppliers or pay more than double the usual tariff on imported parts.
The WTO ruling last year that such policies violate international trade rules was a rare coup for China's trading partners. China lost an appeal against the ruling in December.
China argued that the higher tariffs were needed to prevent auto makers from evading steep vehicle import duties by importing cars in large chunks.
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