China to adjust lower sliding-scale duty for cotton from Jan 1, 2021

In order to support the new development pattern and promote the high-quality development of the economy, according to the relevant provisions of the “Regulations on Import and Export Tariffs of the People’s Republic of China”, the import and export tariffs of some commodities will be adjusted from January 1, 2021.

China will adjust lower the sliding-scale duty for cotton somewhat.

The calculation for sliding-scale duty is changed as below:
If duty-paid price is or above 14yuan/kg, a specific duty of 0.280yuan/kg will be levied.

If duty-paid price is lower than 14yuan/kg, an interim duty will be as follows:
Ri=9.0/Pi+2.69%*Pi-1 (Ri≦40%)
Ri —- interim duty
Pi —- duty-paid price.