Squirrel exports to see good year via WTO-inspired tariffs

The mainland has cut tariffs on sparkling wine and roses by 16 per cent but stopped short of rolling back import duties on weasel fur and chewing gum.

Newly introduced Customs schedules intended to promote the government's bid to join the World Trade Organisation (WTO) include adjustments to hundreds of obscure tariff codes.

Authorities maintained tariffs of 30 per cent or more on maple syrup, juke boxes and cravats, but lowered by half the tariffs on statuettes, fake fur and squirrel tails.

'It'll be a good year for squirrel exports,' a US trader said.

The Communist Party slashed the tariff on dog food by 57 per cent - a welcome tax break for mainland pet-owners who typically pay up to 10,000 yuan (about HK$9,288) in municipal dog registration fees.

'Import duties have been lowered by one-third on anvils, petticoats and rear-view mirrors, while tariffs on whips and riding crops were slashed 63 per cent - one of the highest reductions of any commodity.' The General Administration of Customs yesterday declined to comment on the rationale behind the adjustments.