Recently, according to the latest report from the Russian Furniture and Wood Processing Enterprises Association (AMDPR), the Russian customs has decided to implement a new classification method for imported furniture sliding rail components from China, resulting in a dramatic increase in tariffs from the previous 0% to 55.65%. This policy is expected to have a significant impact on Sino-Russian furniture trade and the entire Russian furniture market. Approximately 90% of furniture imports to Russia go through the Vladivostok customs, and the sliding rail products subject to this new tax are not produced locally in Russia, relying entirely on imports, primarily from China.
Sliding rails are essential components in furniture, with their cost accounting for as much as 30% in some furniture items. The substantial increase in tariffs will directly raise production costs for furniture, and it is estimated that furniture prices in Russia will rise by at least 15%.
Additionally, this tariff policy is retroactive, meaning that high tariffs will also be imposed on previously imported products of this type dating back to 2021. This implies that even completed transactions may face additional tariff costs due to the implementation of the new policy.
Currently, several Russian furniture companies have lodged complaints with the Ministry of Industry and Trade regarding this issue, calling for government intervention. The release of this policy undoubtedly poses a significant challenge for cross-border sellers, and it is essential to continue monitoring the developments of this situation.
Post time: Dec-04-2024
