On December 1st, the news of Russia imposing a high tariff of 55.65% on furniture components imported from China has sparked discussions among Chinese netizens.
The Russian Furniture and Wood Processing Enterprises Association (AMDPR) announced that starting from the fall of 2024, the Vladivostok (Vladivostok) Customs in Russia has implemented a new classification method for furniture drawer slides imported from China, raising the tariff on these products from 0% to 55.65%. Approximately 90% of Chinese furniture imports must go through this customs port.
This tariff policy is also retrospective, going back three years, meaning that products imported since 2021 will also be subject to the high tariff. This implies that even completed transactions may face additional tariff costs due to the implementation of the new policy.
In mid-November, AMDPR sent a letter to the Russian Federal Ministry of Industry and Trade, urging them to contact the Federal Customs Service of Russia to halt the re-certification process for furniture guides.
According to reports, drawer slides are essential components in furniture, with their costs accounting for up to 30% in some furniture pieces. A significant increase in tariffs on imported furniture components from China could lead to major changes in the component market.
Timur Irtuganov, CEO of AMDPR, stated that after the Russia-Ukraine conflict, Chinese component companies filled the void left by European enterprises, exporting over $1.3 billion worth of furniture components to Russia annually. The sudden tariff increase is not only expected to raise prices of local furniture products by over 15%, but could also entail retroactive taxes on imports since 2021, severely impacting the related industries, potentially leading to bankruptcies of supplier companies.
Alexander Shestakov, President of AMDPR, emphasized that Russia does not produce such drawer slides and heavily relies on imports, mostly from China. The implementation of this tariff policy could not only lead to bankruptcy for many furniture component importers but also disrupt the stability of the Russian furniture market.
It’s worth noting that similar components from European countries face a 10% tariff.
On December 1st, this news sparked discussions in China.
Netizens commented: “Are relationships cooling down?”, “The spokesperson from the Ministry of Foreign Affairs should come out and take a walk around.”, “Cooperation has no limits.”, “Could it be a way to show respect but not daring to be blatant, then through tariffs, father and son are in cahoots?”
“The only country that has grabbed a large amount of land.”,”Every time I see Koryak Island and Vladivostok on the map, my heart aches, not to mention Lake Baikal, looking at it brings tears every time…”