China will cut, remove export tariffs on some steel, fertilizer
China will cut export taxes on some steel products and fertilisers and ditch those for sales abroad of steel wire, rod and bars from Jan. 1, the Ministry of Finance said on Friday, in a series of measures that could boost shipments.
The move is likely to stir concerns among foreign competitors in the United States and Europe that China, the world’s top steel producer, may be looking to sell its excess product abroad.
It follows a ministerial level G20 meeting in Berlin last month, where China and the United States remained at odds over how to tackle excess steel capacity. The global steel sector is worth about $900 billion a year.
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