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From MNI via Forexlive:
China Securities Journal (via MNI):
- China government is planning to cut tariffs on coal exports to 3% from 10%
- Citing sources familiar with the matter
- Said tariff cuts will be announced in December
- Will take effect starting January 1 2015
Adds:
- Effort to help domestic producers which have suffered from tumbling prices on the back of capacity expansion
- Chinese government has ordered major coal producers to slash output, cut imports and also raised import tariffs for coal to stabilize prices.
Take that, Glencore.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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