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China resets tariff on coal imports

China resets tariffs on coal imports from May 1 to March 31, 2023 to secure energy supply

China resets tariff on coal imports

According to the statement published on the website of the Ministry of Finance of China, it was stated that the current tariffs vary between 3 percent and 6 percent depending on the type of coal.

Coal imports in China fell 24 percent at the end of March as global prices rose.

The move by China, the world's largest coal importer, is expected to put additional pressure on rising fuel prices this month as the European Union and Japan tighten the market further by banning fuel imports from Russia.

In 2014, China started to impose tariffs of 5 percent and 6 percent on imports of different types of coal. It applied tariffs of 3 percent for anthracite and hard coal for steel production.

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