China's soda ash VAT rebate disadvantages Wyoming producers
07 Oct '11
1 min read
U.S. Senator Mike Enzi, R-Wyo., said the U.S. needs to go farther in addressing unfair trade practices that disadvantage Wyoming soda ash producers.
During a speech on the Senate floor, Enzi highlighted the recent efforts by Congress and U.S. officials to pressure China on its Value-Added Tax (VAT) rebate for soda ash.
“There are additional policies that our government needs to continue to press that disadvantage U.S. exporters including China's VAT rebate on soda ash. Wyoming soda ash producers can compete with the best but not when other nations stack the deck.”
China currently provides a 9% rebate for soda ash exports on its 17% Value-Added Tax. The rebate is provided to its domestic manufacturers as an artificial incentive to export more soda ash. Without this incentive, China soda ash producers would be forced to compete more fairly in the global market.
Enzi's remarks were part of the debate on a bill designed to persuade China to stop undervaluing its currency.
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