China will reduce import duties on 935 products, including medical supplies and lithium-ion battery materials, starting next year.
China has announced a significant reduction in import duties on a wide range of products, effective next year. This includes essential medical supplies and resource-based commodities, as reported by Reuters.
The Customs Tariff Commission of the State Council revealed that tariffs will be lowered on items such as recycled black powder used in lithium-ion batteries. Additionally, medical products like artificial blood vessels and diagnostic kits for infectious diseases will benefit from these reduced levies.
Authorities indicated that provisional import tariff rates for 935 products will be set below the most-favoured-nation levels applied to all World Trade Organization members. This strategic move aims to enhance access to critical resources and medical goods while ensuring compliance with international trade commitments.
