China will lower tariffs on more than 850 products ranging from frozen pork to avocado in 2020, reports CNBC. 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 rate for frozen pork will be cut from 12 percent to 8 percent and tariffs for avocados will be lowered to 7 percent from 30 percent. Tariffs for some asthma and diabetes medications will be set at zero, the ministry said, while duties on some wood and paper products will be lowered too. Full Story
Related: Report: Consumers Feel Impact of Tariffs; Democrats Sign Off on Updated Trade Agreement.
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China to Lower Tariffs in 2020
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December 23, 2019
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