ISRI Highlights China Import Policy – lagging explicitness

ISRI Highlights China Import Policy

Image source: RPNews

The buzz about ISRI Highlights China Import Policy has been making rounds in recycling markets internationally.

Chinese policies causing trade barriers

  • ISRI Highlights China Import Policy has raised alarming concerns for the consequent trade barriers.
  • The responses were submitted by the Institute of Scrap Recycling Industries (ISRI) with respect to the Chinese government import policy before the United States Trade Representative (USTR) so that these could find a mention in World Trade Organisation’s (WTO) annual compliance report on China.
  • While ISRI lauded USTR for its comprehensive feedback about the critical trade barriers impacting the recycling industry, also does the ISRI Highlights China Import Policy which lacks explicitness towards import embargos, stringent product standards, and uncompromising licensing requirements.
  • The Chinese Government has been surreptitiously casting prohibitions and non-tariff restrictions on imports of scrap materials have bee since 2018.
  • It is expected that the Chinese Government is considering banning all “solid waste” by 2021. However, there is no such conspicuous policy information available in the public or industry domain which has further resulted in a precarious situation.
  • There have been concerns and apprehensions in the marketplace since 2017 about the Chinese Government posing a totalitarian ban on all “solid waste” (including scrap commodities) by 2021. As per the global recycling industry’s latest news, there is no official notification about this proposal.
  • In its comments, ISRI also pointed out its observation about the impact on Chinese trade in scrap commodities in the wake of the application of certain non-tariff barriers.
  • ISRI’s comment’s extracts out that the growing demand for scrap in China has led to the announcement of the 2020 version of Standards on imports of aluminum, brass, and copper “recycled raw materials’. This latest version of the standard has propelled the material that enters the Chinese market under the new “recycled raw materials” to be in a form that is promptly available for the smelter.
  • ISRI further commented that the Chinese government is not visibly submissive and amenable to the global concerns over its opaquely framed trade policies.
  • While ISRI highlighted its concerns in a comprehensive manner, it also expressed its thankfulness to hard work and sustained advocacy by the Office of the United State Trade Representative, the U.S. Department of Commerce, and the U.S. Department of State at the WTO and in bilateral engagements with the Chinese Government. 
  • ISRI also underscored the importance of the WTO Compliance Report in keeping regulators and the general public well informed about the state of US industries and the cascading impact on these industries on account of the Chinese Government’s hazy policies for trade and commerce.

Conclusion

It is quite evident both empirically and theoretically the opaque trade policies do not breed prosperity and fructuous enterprises. The Chinese government’s silent and surreptitious policy moves are proving a costly affair for the world business. Considering this travesty of global impact, WTO is shouldered with an amplified responsibility to address the trade concerns and promote sustainable trade development.

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