China puts 10 percent tariff on mineral exports

摘要

Industrial minerals from China are set to become more expensive following a ruling by the Chinese government to impose a 10 percent tariff on exports of key natural resources. The new tariff, to take effect 1 November 2006, will impact exports of rare earths, andalusite, kyanite, sillimanite, fluorspar, and mineral sands. The move is aimed at reducing China's sales to foreign countries; the country's trade surplus has surged in the past year on soaring exports and slowing growth in imports. The decision is also in line with a strategy to protect the country's supply of strategic mineral resources and reduce exports of energy intensive materials.