India plans to increase taxes on 300 products, some chemicals soar

Recently, India has resisted the upgrade of Chinese manufacturing, raising tariffs on 300 types of products, some chemicals soared by 300%, and prices of many chemical products have been raised.

Since the epidemic, India’s resistance to China has become more and more serious. From the daily necessities and household appliances to the mobile app APP, QQ, WeChat, and email, India’s resistance to China has escalated. In June 22nd, there was another big news in the foreign trade circle-the Chennai Port of India suspended the customs clearance of Chinese goods. On the evening of June 22nd, all goods were inspected 100% (random inspection before this).

The Indian Press Trust (PTI) said on the 28th that India will inspect all power equipment purchased from China to confirm the presence of malware or Trojan viruses. This is the latest case of New Delhi's strict quality control and tariff increase on Chinese products. In addition, the Ministry of Electronic Information Technology of India announced on the 29th that it banned 59 Chinese applications including TikTok and WeChat.

Affected by incidents such as the Sino-Indian border conflict, India launched a campaign to boycott Chinese products, and later resisted upgrades or increased tariffs on 300 products. According to Reuters, two Indian government officials have recently indicated that as part of the protection of domestic enterprises, India plans to impose higher trade barriers and increase import tariffs on about 300 products from China and other regions. The plan may gradually take shape in the next 3 months.

It is reported that an organization boycotting Chinese products in India has compiled a list of 3000 products that are easily replaced among the products currently imported from China. In a list published on June 17th, it proposed more than 500 Chinese products that began to resist in the first phase, involving FMCG, durable consumer goods, toys, furniture fabrics, textiles, construction hardware, footwear, clothing and Kitchen supplies, etc.

According to official data released by India, India’s products imported from China mainly include: electrical appliances, furniture, toys, watches, musical instruments, sports goods, mattresses, plastic products, steel products, etc. This has worsened companies that had not survived during the epidemic.

From July 1st, the dispersion of black ECT 300% rose urgently! News from the industry will increase the full range of disperse dyes! At present, the price of dyes is at a low point due to special periods. With the improvement of the environment and the continuous expansion of shipments, the increase in dye prices will be an inevitable trend. Everyone must be prepared to purchase!

ICEK Integrated Chemicals International Trading (Shanghai) Co., Ltd. announced that from July 1, 2020, the price of all brands of SK EPDM products will be increased by 1,000 CNY/ton.