On December 15, the Ministry of Finance of China announced that China would adjust import and export tariffs on certain commodities in 2022.
Starting from January 1, 2022, China will impose temporary import tariffs on 954 items that are lower than the most-favored-nation duty rate. Import tariffs on salmon, pollock and redfish will be reduced from January 1, 2022.
As one of China’s important imported seafood, the import tariff of fresh Atlantic salmon (HS code: 03021410) will be reduced from 10% to 7%. The tariff on red fish (HS code: 03038990) will be reduced from 7% to 5%. For the frozen Alaska pollock (HS code: 03036700) import tentative tariff rate is lowered from 5% to 2%. The tariffs on other imported seafood remain unchanged.
According to data from the International Trade Center (ITC), China imported $326 million worth of fresh Atlantic salmon in 2020, as well as $691 million worth of frozen pollock and $537 million worth of red fish.
The Ministry of Finance of China declared that “salmon and cod are high-quality aquatic products and will enjoy duty reductions to meet people’s needs for a better life. While creating a good atmosphere for the Beijing Winter Olympics, it will respond to the trend of consumption upgrades.”
