China-Australia trade deal will officially scrap 8% duty on alumina imports
Source: www.chinamining.org Citation: Platts Date: November 18, 2014
China will officially drop the 8% duty on Australian alumina imports, which has not been applied in recent years in any case, under the landmark Free Trade Agreement between the two countries announced Monday.
"Tariffs will also be removed on a range of Australian resources and energy products, including the 8% tariff on aluminum oxide [alumina] on the first day of the Agreement," Australian Prime Minster Tony Abbot said in a statement.
China has a Most Favored Nation (MFN) 8% duty on alumina imports, but has not imposed it since 2008, according to the Chinese Ministry of Finance.
At present, imported material into China is subject to a 17% VAT, which is expected to remain, Chinese sources said.
China imported 2.4 million mt of Australian alumina over the January to September period of 2014, out of a total of 3.9 million mt global alumina imports.
The value of the Australian alumina imported over the same period stood at $809 million.
According to the World Trade Organization, the MFN tariff is the normal non-discriminatory tariff charged on imports, excluding preferential tariffs under free trade agreements.
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