Commercial importers have urged the federal government to remove the wide tax gap between commercial and industrial imports, arguing that the current structure is damaging fair competition and encouraging undocumented trade practices. Industry representatives said the tax differential on raw material imports currently ranges between 26% and 28%, making it increasingly difficult for genuine commercial […]
raw materials
EU warns of China ‘racket’ as rare earth tensions rise
The European Union has urged stronger action to reduce its reliance on China for rare earth elements, after Beijing introduced export controls that EU officials say are disrupting global supply chains and pressuring European manufacturers. China, which leads global rare earth production, imposed new restrictions in October, causing market instability before announcing a temporary one-year […]