The new sliding scale duty mechanism for cotton imports

　　The Tariff Committee of China State Council published the 2007 Tariff Implementation Scheme on December 28. According to this new policy, starting from January 1st, 2007, the new sliding scale duty will range from 6-40% for cotton imported under the additional quota. Below please see the details of this Scheme:
　　
　　The tariff rate is 6% for CIF Value equal to RMB 11.397/kg or higher.
　　
　　When the CIF value is below RMB 11.397/kg, the tariff rate will be:

　　　　Ri= Tariff Rate
　　　　Pt= RMB 8.8/kg；
　　　　Pi=CIF value at US Dollar/kg
　　　　E=USD/RMB Exchange Rate
　　　　α=2.526%；
　　　　INT= Round number of the function