RCEP is the largest free trade agreement signed by China. After the implementation of RCEP, its tariff concessions will be implemented in parallel with those of other preferential trade agreements. Let's talk about the tariff reduction policy simply!
 

1、Tariff concession under RCEP

2. Four tax reduction modes: 

A:In the first year of entry into force of the agreement for a Contracting Party, zero tariff shal be implemented immediately for originating goods.
B:The tariff rate of originating goods shal be reduced from the benchmark interest rate to zero after a transition period of linear or non-linear reduction from the date of entry into force of the agreement for a contracting party. (The transition period is mainly 10 years, 15 years or 20 years.)
C:The tariff rate of originating goods wil be reduced but it does not fall to zero in the end.
D:Products exempted from any reduction or cancelation of tariff commitments after the entry into force of the agreement. In the published RCEP tariff commitment table, the agreed tax rates of such commodities are represented by the letter "U", such as "fresh food and cold beef" and so on.

3. List of tax reductions by China to other contracting parties

So for import enterprises shall compare the tax reduction level and rules of origin under different preferential trade agreements for its own imported goods. Choose the best preferential trade agreements and fully enjoy import tariff preferences.

Tariff concessions by free trade partners can enhance the price advantage of all Member States' export products in the target market. Therefore, it is very important to using the best preferential tariff treatment of contracting parties for all Member States’ export goods.

It is our honor if you get more understanding about tariffs under RCEP. Pls let us know if you have other aspects want to know, THANKS!