Tradelines News

Get the latest news and updates on cross-border customs and international trade.

China to Reintroduce Tariffs on Coal, Hitting Mining Stocks

Posted October 10, 2014

Under Economic Issues, International Trade Issues

(CBC News)

China, the world’s top coal importer, will levy import tariffs on the commodity for the first time in nearly a decade.

News of the tariffs – 3% on anthracite coal and coking coal and 6% on non-coking coal – hit mining stocks around the world.

Vancouver-based Teck Resources, one of Canada’s largest coal suppliers to China, saw its stock slide by 6.4% to $18.07 in late trading. Coal represented 44% of Teck’s revenue in 2012 and it sells $2.5 billion in commodities to China every year, including coal, copper and zinc. Read more here.