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The increase in export tax rebates is positive for China's steel exports
On March 17, the Ministry of Finance and the State Administration of Taxation issued a notice on raising the export tax rebate rate for some steel products, which included a total of 122 items of iron and steel and their products under customs codes 72 and 73. The export tax rebate rate was raised to 13%.
By raising the export tax rebate rate for steel-related products, on the one hand, it will effectively reduce the burden on steel enterprises and increase their enthusiasm for exporting steel products; on the other hand, it will provide export enterprises with a certain price reduction space and improve the international competitiveness of steel-related products. On the whole, the increase in export tax rebates is good for China's steel exports, and it can suppress the impact of some foreign situations.