China imposes tariffs on 110 exported products

Updated: 2006-10-28 13:49

China has decided to impose temporary tariffs on 110 exported goods and cut tariffs on 58 imported goods beginning November 1, in a bid to curb its soaring trade surplus, the Ministry of Finance said Friday.

The export of various types of minerals -- such as apatite and rare earth minerals -- will carry a tariff of 10 percent. The export of energy products such as coal, charcoal and crude oil will carry a tariff of five percent.

A 15 percent tariff will be imposed on the export of copper, nickel and nine other metallurgical products.

Exporters of iron alloy, raw iron, steel billets and 27 other iron and steel products will have to pay a tariff of 10 percent.

Exports of wooden flooring, disposable chopsticks and 19 other goods will be imposed a 10 percent tariff.

China's trade surplus hit a new high of 109.85 billion U.S. dollars in the first three quarters of the year, amid concern over disputes with its major trade partners.

The government in September cancelled or lowered export tax rebates on hundreds of products.

Products now carrying lower import tariffs include plate making equipment, spare parts for textile machines, semiconductor modules, coal, oil, fertilizers and certain leather products.

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