China to lower import tariffs on some products from Jan 1

December 23, 2019 11:49
Beijing has announced further measures as it seeks to boost imports amid a trade war with the United States. Photo: Reuters

China will lower tariffs on some products, including frozen pork and avocado and some type of semiconductors, next year, Reuters reports, citing the finance ministry.

The country will implement temporary import tariffs, which are lower than the most-favored-nation tariffs, on over 850 products from January 1, according to the report.

That compared with 706 products that were taxed at temporary rates in 2019.

The tariff rate for frozen pork will be cut to 8 percent from the most-favored-nation duty of 12 percent, while the rate for frozen avocado will be reduced to 7 percent from the most-favored-nation duty of 30 percent, the finance ministry was quoted as saying in a statement on its website.

Tariffs for some asthma and diabetes medications will be set at zero, said the ministry, while duties on some wood and paper products will be lowered too.

Import tariffs on multi-component semiconductors will be cut to zero.

China will also further lower most-favored-nation import tariffs on some information technology products from July 1, according to the report.

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