Global-oriented Japan intends to exempt the tariffs on the three raw materials for auto parts
China News Service, October 23, according to Japanese media reports, recently, the Japanese Ministry of Finance has started to discuss the issue of waiving the tariffs on the three categories of auto parts and components raw materials worldwide since 2018.
The report stated that since 2018, with the cancellation of the tariff system for developing countries, Japan will impose the same tariff of 2.6 to 3.3% as developed countries on imported products from Brazil and other countries, but not to increase the burden on domestic companies. It will remain at 0%.
It is reported that the targets for this project are "Strontium Ferroalloy," "Aluminum Hydroxide," and "p-tert-Butylphenol," which are raw materials for parts and components such as automotive motors and lights. There is no production in Japan, and most of the imports depend on developing countries.
In terms of tariffs, the tax rates for developing and developed countries are different, and the tariff on developing countries is 0% on the principle of industrial and mining products.
However, since 2018, countries such as Brazil will “graduate” from the stage of developing countries, and they are scheduled to collect the same tariffs as developed countries. Starting from 2018, Japan will first impose tariffs on all categories of products from Brazil, etc., and all categories of five countries since 2019.