China’s Custom Tariff Commission of the State Council has reduced tariffs on certain forestry products imported into the country. The tariff reduction began Jan. 1.
More than 100 forest products qualify for the tariff reduction, including certain wood fiber boards, plywoods, wood block core plywoods and wood surface multilayer boards, according to a translated version of China’s announcement.
This action demonstrates the importance of the wood industry to China.
US-China trade war
In 2018, the Trump administration started the first rounds of tariffs on what would eventually become more than $300bn worth of products. China challenged tariffs enacted in June and September of 2018 on goods estimated at more than $200bn in annual trade. The US said the duties were a response to China’s state-sanctioned technology theft, subsidies and other “unfair practices” and allowed under 1970s-era trade rules. But China said the taxes violated trade regulations because they were higher than US commitments and targeted only one country.