Chinese Taxes on Semi-Finished, Hot Rolled, Cold Rolled and Coated Steels

China has a number of taxes on steel, both domestically and for exports. This is one of the misunderstandings many countries have (including the United States). We have been speaking about the subject with one of our key Asian trading contacts over the past few days as we asked about possible suspension of Boron added steel (alloy steels) tax rebates. He told us, “John, everyone talks about Chinese Rebates and Subsidies, but does anyone in their right mind stop to think that China is the only country imposing an Export Tax on Steel???? Does the US, Canada, EU, Russia, India etc…?? No, but they sure know how to accuse China of taking advantage of Export Tax loopholes. I wish China would cut all export Taxes tomorrow and impose Import Taxes or Dumping margins on Iron Ore and other steel products which may be imported into China. Maybe that would help put a perspective in place for all these countries badmouthing China on export tax which no other country in the world imposes, but no one dares to discuss.”

So, let’s discuss the subject of Chinese taxes on steel and especially the rebates which are currently being offered on Boron added (alloy) steels when exported out of China.