Argentina Customs recently increased reference prices used to set minimum per unit valuation for imports of motorcycle helmets under subheading 6506.10.00 from a handful of countries in Asia, and added a new reference price for bicycle helmets from those countries, according to a notice in its Boletin Oficial. Reference prices for motorcycle helmets were increased to $16-$100, depending on materials used in the helmet, up from $13-$14, according to a note from Global Trade Alert. Reference prices for bicycle helmets were set at $2.82 to $4.50. The reference prices apply to merchandise from North Korean and South Korea, China, the Philippines, Hong Kong, India, Indonesia, Malaysia, Pakistan, Singapore, Taiwan, Thailand and Vietnam, according to the notice.
Exports to China
China will lower its value-added-tax rates on certain goods and services from 16 percent to 13 percent and from 10 percent to 9 percent, China's Premier Li Keqiang said during the opening of the county's annual meeting of its National People's Congress on March 5, according to multiple reports. While Li said the new 13 percent VAT will apply to manufacturing and the 9 percent will apply to transportation and construction, KPMG projects the scope of the rate changes to broad, with the 13 percent rate applying to all Chinese imports. Li did not announce when the new rates will take effect, although they are expected this year.
A deal is shaping up with China that would lift most of the Section 301 tariffs on Chinese imports, according to a report from The Wall Street Journal. The article cautioned it could still fall apart over enforcement, or over political pressures on either side that the deal is too favorable to the other country. President Donald Trump tweeted that "I have asked China to immediately remove all Tariffs on our agricultural products (including beef, pork, etc.) based on the fact that we are moving along nicely with Trade discussions.... and I did not increase their second traunch [sic] of Tariffs to 25% on March 1st. This is very important for our great farmers - and me!"
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The World Customs Organization issued the following release on commercial trade and related matters: