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China will lower import tariffs on over 850 products from January 1

China will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year as Beijing looks to boost imports amid a slowing economy and a trade war with the United States, Reuters reports

China will lower import tariffs on over 850 products from January 1

China will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year as Beijing looks to boost imports amid a slowing economy and a trade war with the United States, Reuters reports

26 December 2019 - 19:00

China will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year as Beijing looks to boost imports amid a slowing economy and a trade war with the United States, Reuters reports.

In 2020, China will implement temporary import tariffs, which are lower than the most-favoured-nation tariffs, on more than 850 products, the finance ministry said. That compared with 706 products that were taxed at temporary rates in 2019.



The tariff changes were made to 'increase imports of products facing a relative domestic shortage, or foreign specialty goods for everyday consumption,' the ministry said in a statement on its website.



The finance ministry said the tariff rate for frozen pork will be cut to eight per cent from the most-favoured-nation duty of 12 per cent, as China copes to plug a huge supply gap after a severe pig disease culled much of its swine herd.


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