Japan Intends To Revise Preferential Tariff &Nbsp; 462 Kinds Of Chinese Made Products No Longer Benefit.

Japan's Asahi Shimbun, 14, reported that the Ministry of finance of Japan is revising the preferential tariff system, which is expected to take effect as early as April this year.

The preferential tariff system, which began in 1971, aims to provide economic support to developing countries through a zero tariff or preferential tariff system for specific products.

This system stipulates that if a foreign product's imports exceed 1 billion yen in two consecutive years, the import volume exceeds half of the total imports of such products, and there will be a competitive relationship with Japanese products, no preferential tariff will be granted.

The Ministry of finance will revise the applicable standard of preferential tariff, the report said.

According to the new standard, the preferential tariff system is no longer applicable to foreign products whose import volume exceeds three of the total imports over the past 1 billion 500 million years and imports of more than 1 billion 500 million yen.

According to the new standard, 465 foreign products will no longer enjoy preferential duties, of which 462 are

The report points out that increasing the import tariffs of these foreign products may stimulate the price increase of these products in Japan, thereby increasing the burden on consumers.