Eric Watkins
Senior Correspondent
LOS ANGELES, Oct. 31 – The Chinese government plans to introduce temporary tariffs on 110 energy-related export products or commodities while cutting customs duties on 58 imported products.
Exports of oil products, coal, coke, and crude oil would be subject to tariffs of 5%, while import tariffs on a range of items, including 26 energy and resource products and commodities—such as oil and coal—would be cut from the present 3-6% to 0-3%.
An official with China's National Development and Reform Commission said the tariffs would be implemented to enhance energy efficiency, optimize the national energy structure, and rationalize energy and resource-intensive sectors.
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