December 26, 2019
China to Cut Tariffs on Range of Goods Amid Push for Trade Deal
BEIJING—China will cut import tariffs for frozen pork, pharmaceuticals and some high-tech components starting from Jan. 1, a move that comes as Beijing and Washington are trying to complete a phase-one trade deal.
The plan, approved by China’s cabinet, will lower tariffs for all trading partners on 859 types of products to below the rates that most-favored nations enjoy, the Finance Ministry said Monday. Most-favored-nation rates are the lowest possible tariffs a country offers to its trading partners.
The lower levies will apply to frozen pork, as China aims to shore up its meat supplies amid an outbreak of swine fever,...