China to lower import tariffs from January


Team Udayavani, Dec 23, 2019, 10:37 AM IST

Beijing: Beijing will lower import tariffs on over 850 products, including frozen pork, from January next year, the finance ministry said on Monday, which may help ease the pressure on the country’s depleted pork supply.

China has been hit by a severe pork shortage after African Swine Fever tore through the country’s pig herds. More than a million pigs have been culled due to the disease, according to official statistics, and prices of the staple meat have more than doubled.

Monday’s announcement said tariffs on frozen pork will drop from 12 percent to 8 percent from January 1.

According to the announcement from the Tariff Commission of the State Council, the changes will optimize “the trade structure and promote the high-quality development of the economy”.

Other products which will have lower import tariffs include food products — such as fish, cheese and nuts — pharmaceuticals and a range of chemical products.

China said from July 1 next year, it will also further reduce some tariffs on some technology products, said the ministry in a statement on its website.

Goods from countries including New Zealand, Peru, Costa Rica, Switzerland, Iceland, Australia, South Korea, and Pakistan will also be subject to even lower levies under re-negotiated bilateral trade agreements, according to the statement.

The move does not appear to be linked with the bruising US-China trade war, which has seen Washington and Beijing exchanging blows for more than a year.

Earlier this month, the two sides announced a mini-agreement to reduce some levies in a bruising trade war, which has dragged on global growth.

Last week, China said that a list of US chemicals will be exempted from import tariffs, including certain types of industrial glue and adhesives, industrial polymers and types of paraffin, which can be found in cosmetics and food.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Mumbai: Woman drowns three-month-old daughter in water tank; arrested

No case of Omicron variant in TN so far: Health Minister

KS Eshwarappa warns cattle-traffickers of action

Dont give nod to TN’s Cauvery-Vaigai-Gundar project till Mekedatu is cleared: K’taka CM to Centre

K’taka CM discusses Omicron variant with Mandaviya; calls for booster dose to health workers

‘Scam 1992’ leads nominations for Filmfare OTT Awards 2021

Murder plot against BJP MLA: Police serve notice Cong leader, 9 others


Related Articles More

Pakistan summons Indian diplomat; says model’s ‘bareheaded’ photoshoot at Kartarpur ‘isolated incident’

Biden launching winter COVID-19 booster, testing campaign

Omicron and delta spell return of unpopular restrictions

20-yo who sued her mom’s doctor for allowing her to be born wins millions

What’s the status of the COVID-19 vaccine mandate in the US?

MUST WATCH

‘Car’bar with Merwyn Shirva | Episode 2|

NEWS BULLETIN 02-12-2021

Leopard Strays Into School and Attacks Student Cheetah Locked Up In Classroom

Cow Video Viral at Byndoor

Lifestyle Diseases: Awareness Prevention


Latest Additions

Mumbai: Woman drowns three-month-old daughter in water tank; arrested

No case of Omicron variant in TN so far: Health Minister

Central Vista project of national importance, all measures taken to ensure no pollution: Centre to SC

KS Eshwarappa warns cattle-traffickers of action

Dont give nod to TN’s Cauvery-Vaigai-Gundar project till Mekedatu is cleared: K’taka CM to Centre

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.